Economy
Posted: 3 weeks ago

Davit Narmania Attended Economic Forum

Davit Narmania, Chairman of the Georgian National Energy and Water Supply Regulatory Commission, joined the discussion on green energy within the framework of the Economic Forum.

GNERC Chairman highlighted importance of green energy development. He spoke in details about the need for building regulated HPPs and ongoing reforms in the energy sector.

The discussion, ‘Green Energy Perspectives and Regulation’, was supported by the Bank of Georgia. Together with the Chairman of GNERC, Archil Gachechiladze, the General Director of the Bank of Georgia and Levan Vepkhvadze, the Executive Director of the Georgian Business Association also participated in the 11th discussion of the ‘Economic Forum’. The discussion was moderated by Giorgi Abashishvili, founder and head of Business Insider Georgia.

"We engaged in a fascinating discussion where we addressed the current issues of green energy. We also examined the reforms that have been implemented in the country from an energy development perspective over recent years. The main issues that have been highlighted refer to the opening of the electricity market. This includes both the positive aspects and the existing challenges. It is noteworthy to mention that we hear demands related to the simplification of administrative procedures on the part of business, especially in terms of the development of new green energy projects.", said Davit Narmania.

According to the GNERC Chairman, it is crucial to encourage the development of additional energy sources within the renewable energy sector.

"The initiation of work on the implementation of the EU 4thEnergy Package, which is being pursued intensively in European countries, is a significant step. The prospect of a direct energy connection with Europe, as announced within the framework of the Black Sea Submarine Cable Project, is very promising. A technical-economic study on this project is currently underway," remarked Davit Narmania.

Discussing the Black Sea Submarine Cable Project, the GNERC Chairman highlighted that the project plans to establish an underwater high-voltage transmission network. This network aims to connect the electricity systems of Georgia and Europe. The execution of this project is expected to enhance the energy security of both Europe and the South Caucasus region, foster the development of the renewable energy sector, and increasetransit opportunities.

The primary objective of the ongoing discussions within the ‘Economic Forum’ is to scrutinize the current challenges that Georgia faces in terms of economic policy, education, and European integration. These challenges are being examined from the perspectives of the state, analytical and business sectors. The main international partner of these discussions is the Foundation Institute for Eastern Studies, which organizes the largest economic forum in Central and Eastern Europe.