Natia Turnava opened the International Investment Forum “Energy Week Georgia 2020” featuring 300 delegates from more than 15 countries worldwide.
According to Natia Turnava, the large-scale energy reform being implemented by the Ministry of Economy and Sustainable Development of Georgia aims to make Georgia’s energy market resemble the European one, supporting it to become more open and competitive and create more secure environment for customers.
“Within the frames of the reform, part of the deregulated market has increased, an energy exchange has been established, while the Parliament has adopted the legislative framework for reform. Thanks to the ongoing reform in the energy sector, pressure on tariffs demanded by businesses has diminished and despite all the challenges we have been able to keep tariffs unchanged for the population and small businesses,” – Natia Turnava said.
According to the Minister, the reforms facilitated the attraction of investments to the energy sector. Natia Turnava has named some of them, including Namakhvani HPP, which will move into the construction phase this year; the Georgian government has already approved the project on four new wind energy projects with total installed capacity of 250 MW and now investors are currently awaiting construction permits.
“It was a great success to privatize the Gori Wind Power Plant proving it to be a sustainable and attractive project. We are also planning to launch solar power projects. Most importantly, the market opening has made it possible for small and medium-sized HPPs to develop without any guaranteed purchase tariff. There are already 24 such projects. We will continue this process,” – the Minister of Economy and Sustainable Development stated.
The issues related to the challenges faced by Georgia’s energy sector, the decisions made to enhance the energy security and promote the renewable energy utilization and the measures taken to increase energy efficiency, as well as the ongoing energy reform and large investment projects will be discussed during the Energy Week Georgia. In addition, the matters of strengthening the international cooperation in the field of energy will be also considered.
The event is organized by the consulting company “Invest in Network”, which is headquartered in the United Kingdom. The company provides energy consulting services to emerging markets.