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Norway has Approved a $ 4 Million Grant Program for Georgia’s Power Engineering Development

The Norwegian Kingdom approved a grant program of 4 million dollars in energy sector.

Development of the Law on Renewable Energy is planned under the EU 2009/28 / EC Directive and preparation of the Electric Energy Market Development Guide within the four year grant program of the Institutional Cooperation Between the Ministry of Energy of Georgia and the Norwegian Water Resources and Energy Directorate.

In addition, in the framework of the program, for Graduates of Georgian Technical University, a master’s program in hydro engineering will be introduced in Norway. Meetings of Georgian students in hydro engineering graduate program were held with the leadership of the Norwegian Trompthem Technical University.

Deputy Minister of Energy Tornike Rijvadze was in the Kingdom of Norway with a working visit within the framework of the Government of Georgia’s Institutional Cooperation Between Georgia and the Norwegian Water Resources and Energy Directorate.

During the meeting with the representatives of government agencies, the discussion focused on the introduction of new directions of tax systems on the basis of the best practice in Norway for the development of the hydroelectric power sector.

Within the framework of the visit, Tornike Rizvadze met with Paretos Securities AS and the Head of Statkraft, leading energy companies of Norway and introduced the investment climate and opportunities of the Georgian energy sector. The private sector representatives of the Norwegian Kingdom were interested in Georgia’s energy sector and discussed prospects of future cooperation.