Economy
Posted: 1 week ago

Economy Minister: We Contracted Feasibility Studies of $277 million for Building 46 Energy Facilities

"We have contracted feasibility studies worth $277 million for building 46 hydropower plants, Georgian Economy Minister Natia Turnava noted when congratulating the Georgian energy sector professionals on the Energy Sector Day.

"In 2020, we took a decision of historical importance and closed Enguri HPP for reconstruction works. Similar large-scale works at Enguri HPP were held several decades ago. In order to ensure efficient operation of the facility and reduce water losses, it was necessary to carry out fundamental reconstruction works. As a result of the rehabilitation projects, the facility will generate additional 103 million kw/h electricity”, the Economy Minister said.

The installed generation of all 46 facilities amounted to 202.55 megawatts and the presumable annual generation will be 1004.16 megawatts/hours, Natia Turnava said. “We make focus on employing and commercializing nontraditional energy sources. We have contracted feasibility studies for building 7 wind power stations with an installed generation of 106.6 megawatts and the annual generation of 413.3 gigawatt/hour and 1 solar power station. Total investments will exceed $134 million. As for the solar power station, its installed generation will be 68 megawatts with an annual generation of 87.9 gigawatts/hour. The project’s investment value is EUR 36 million”, Natia Turnava said.

The current energy sector reformation project also calls for employing renewable sources. In this regard, we have enforced the Government-approved support scheme and all necessary decisions will be also taken in the future, including for developing transmission lines. Over the past year, construction works started as part of the 9 energy projects with the installed generation of 45.58 megawatts and the annual generation of 256.2 gigawatt/hour.

Total investments amounted to $95 million, the Economy Minister noted. “These indicators reaffirm that Georgia’s energy sector remains one of the attractive sectors for international and domestic investors. In 2020, eleven facilities were accepted in exploitation with the installed generation of 45.88 megawatts and an annual generation of 219.77gigwatt/hour. Total investments amounted to $75.9 million”, Natia Turnava said.