Georgia to invest in multiple renewable energy projects

May 17, 2022 01:05 PM ET
  • Georgia will invest $200 million in wind, hydropower as well as solar projects.
  • Deputy Economy Minister Romeo Mikautadze said that the locations for the renewable projects have already been picked in the Gori, Ksani and Aspindza regions.

The government of Georgia has offered green signal to numerous projects for the growth of renewable energy. The key choices were taken throughout the official session of the Georgian Government Administration.

The government has actually formally revealed that the country will invest $200 million in wind, hydropower, and also solar projects to take renewable energy to better heights. The government claimed that this is required for the energy independence of the country.

Georgia's Deputy Economy Minister, Romeo Mikautadze, has informed that the locations for the renewable projects have actually currently been chosen in the Gori, Ksani and Aspindza regions.

Mikautadze mentioned, "This is an action toward energy independence, which will reduce our reliance on neighboring countries." Lately the government of Georgia had actually divulged its intents to broaden renewables in the country when it said that Georgia requires to attract more investments in the energy sector. It had actually additionally hinted that the country will need to build even more hydropower projects.

Prime Minister Irakli Garibashvili had mentioned, "The electrical power consumption in Georgia is expanding, while generation is substantially lagging behind consumption, which is a great danger for the country, for energy protection and also energy independence as a whole."

According to the International Energy Agency (IEA), the energy generation in Georgia has the ability to cover regarding one fifth of its energy demand (21.4% in 2019). Country's most energy comes from hydroelectric power projects as well as biofuels. In 2019, gas was the very first fuel in the energy mix (45.4%), adhered to by oil (27%), renewables (20.4%) and coal (4.7%).

Almost 75% of Georgia's electrical energy generation comes from hydro production (75.3% in 2019), with the remainder generated from natural gas as well as from a 20.7 MW wind power plant (84.7 GWh in 2019).

IEA claims that the share of renewable sources in Georgia's electrical energy mix is among the highest worldwide. In 2020, the renewable share had to do with three-fourth of the complete energy generated in the country.

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