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22.05.15 - 28.05.15

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Coming Soon: Georgia’s Very First Wind Park

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The Government of Georgia and the European Bank for Reconstruction and Development (EBRD) have signed the initial agreement of cooperation on the upcoming wind park project in Gori.

The document was signed during the 2015 EBRD Annual Meeting in Tbilisi, in the presence of Deputy Prime Minister and Minister of Energy, Kakha Kaladze; EBRD Managing Director for Energy and Natural Resources, Riccardo Puliti; Giorgi Bezhuashvili, Director of the Georgian Energy Development Fund and Aida Sitdikova, EBRD Director for Energy and Natural Resources in Russia and Central Asia.

“Georgia is becoming successful at developing domestic renewable energy sources, thus reducing imports of power generated by fossil fuels. This is important in terms of energy security as well as climate change. After investing €312 million in hydropower generation, we are hoping to make another renewable source – wind – attractive for investors,” stated EBRD Managing Director for Energy and Natural Resources, Riccardo Puliti, after the signing.

Deputy Prime Minister and Minister of Energy, Kakha Kaladze, expressed his gratitude to EBRD for its constant support and placed special emphasis on the importance of the first wind powered project in the Caucasus region.

The total cost of the wind park project is an estimated $35 million. EBRD is planning to provide a total of $25 million as a loan to Georgia to contribute to this project. The capacity of the wind power plant is set to be 20 MW and it is expected to generate 85 GWh annually.

Beqa Kirtava

21.05.2015

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