Economy
Posted: 2 weeks ago

ECOENER Plans to Invest $ 150 Million in Georgian Energy Sector

Despite the pandemic and many other difficulties, foreign companies are still interested in the Georgian energy market.

Zeta Investment Group has signed an agreement with Ecoener, an energy development company, in 2020.

As the founders of Zeta Investment Group Irakli Orjonikidze and Davit Zakariadze explain to "Business Partner", they have started working on several projects with Ecoener. For this reason, on October 5-7, David Cole Gonzalez, Head of Business Development at Ecoener, paid a business visit to Georgia.

"Ecoener intends to invest about $ 150 million in Georgia, with a special focus on solar and wind power plants. In this regard, the representative of Ecoener and the agreement with Zeta Investment Group have already signed. Also, meetings were held with local authorities and private business representatives on various potential projects. Among them, the Energy Development Fund, where the interests of the company were emphasized and both sides agreed on future cooperation," - said David Zakariadze.

It is noteworthy that the company Zeta Investment Group cooperates with several major investors, including an energy company based in Saudi Arabia, which is a subsidiary of one of the Arab investment funds. Currently, the company is working on various projects in Georgia with a total installed capacity of about 100 megawatts. Zeta Investment Group is actively involved in negotiating various projects in Georgia, as well as in Azerbaijan, Armenia, Uzbekistan and Kazakhstan.

As for Ecoener, it is a Spanish energy development company that has implemented many projects despite the pandemic. The company owns an active renewable energy project of more than 400 MW, and in the final development phase of more than 1,500 MW of wind, solar and hydro power plants in Spain, Kenya, the company has been trading on a local stock exchange since 2020. Bonds. In the Caucasus, they are partnered by the investment company Zeta Investment Group.