Economy
Posted: 1 year ago

EBRD Regional Director: Besides Wind and Solar Power Stations, Georgia Should Also Develop Hydro Power Plants

Georgia uses only 20% of its hydropower potential, Catarina Bjorlin Hansen, regional director of the European Bank for Reconstruction and Development (EBRD) for the Caucasus noted.

Satisfying Georgia’s growing electricity consumption is of vital importance. Therefore, Georgia should develop domestic generation, including solar and wind power stations and hydropower stations, Catarina Bjorlin Hansen said. “At this stage, 75% of electricity is generated by hydropower plants, while the remaining 25% that Georgia needs, especially in the winter period, is generated by imported natural gas. In order to continue using clean energy, Georgia should decrease dependence on imported fuel and increase the domestic clean generation by building new hydropower plants”, Catarina Bjorlin Hansen said. EBRD is one of the major investors in Georgia’s energy sector. Domestic and international investors show much interest in developing Georgia’s clean energy generation sector and building hydropower plants and other sources of renewable energy, the EBRD Regional Director noted.

“Georgia is located in a very important strategic region and consequently, the country has wide access to regional energy markets. If Georgia grows domestic generation, it has the potential to export electricity to neighboring countries and integrate the regional markets. Energy security is also positive for the state budget of Georgia because today the Government subsidizes the gas imports while growing domestic generation will enable to cut costs”, the EBRD’s regional director said.

EBRD is ready to back the development of HPPs and other renewable energy projects in Georgia. The Bank practices strict criteria for selecting energy projects.

“By introducing the highest standards of hydropower development we will essentially improve Georgia’s energy independence and safety”, Catarina Bjorlin Hansen said.