BAG had a meeting with the Minister of Economy and Sustainable Development and his team to discuss energy-related matters

5 Apr '24

The main topic of discussion was the current situation and trends in the energy sector in Georgia, as highlighted by representatives of business associations, sector regulators, and the Ministry.

During the meeting, updates were provided on the second auction of the Energy Generation and Usage Support Scheme, including the initial results and the median tariff among other details.

It is worth noting that the second auction, with a total capacity of 800 MW, announced on December 30, 2023, will significantly impact Georgia's economy and sustainable development. The announcement indicated that the volume of the first auction would be almost tripled.

The auction included various energy sources, such as hydroelectric power plants, solar power plants, and wind power plants, with a total capacity of 1915.76 MW. Additionally, 144 projects with a combined capacity of 1865.31 MW passed to the evaluation stage.

"The meeting between the Business Association of Georgia and the Minister of Economy and Sustainable Development, along with his team, was deemed highly important and beneficial for both parties. The discussion focused on the current situation and future developments in the energy sector. Optimal utilization of renewable energy resources is crucial for Georgia's leadership and the business sector. Effective communication and coordination between the government and businesses in implementing energy projects are essential for the country's economic growth and development. Energy plays a key role in driving our country's economic growth, and realizing the potential of the sector can be a significant generator of progress," stated the President of the Business Association of Georgia, Soso Pkhakadze.