Georgia’s Ministry of Economy and Sustainable Development on
Monday announced an auction for production and utilisation of
renewable energy sources that has been described as an “important
step” for ensuring energy independence of the country by Deputy
Minister Romeo Mikautadze, Trend reports citing Agenda.
Initiated by Prime Minister Irakli Garibashvili, the initiative
involves use of local resources and is aimed at attracting
investments, Mikautadze also said, noting the auction would run in
a “competitive, market-based environment” and ensure “fair prices
for both the state and the business”.
The mechanism has been drawn up for companies that are
implementing energy projects in Georgia and need additional
incentives to develop further.
The auction involves projects for hydroelectric power stations
with 150 MW of power, wind power plants of 70 MW, solar power
plants with 70 MW and facilities operating on other renewable
energy sources with the power of 10 MW.
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