The Georgian Energy Development Fund (GEDF), in its efforts to diversify its energy mix and enhance its energy security, has signed an agreement with Masdar to develop Georgia’s largest solar power plant with a total installed capacity of 100 MW. Masdar and the GEDF will jointly monitor the development of the project, which is being carried out as part of a larger framework agreement signed with the GEDF this year to develop renewable energy projects in the country.
George Chikovani, CEO of GEDF said: “Georgia is firmly committed to following a path in accordance with the country’s strategy for the utilisation of renewable energy sources. This agreement, which aims to develop a solar project with one of the world’s leading renewable energy companies, is a pre-condition for achieving the main goals and targets of the state energy policy”.
Georgia has been actively pursuing the use of renewable energy sources, which is why a new programme supporting energy sector reform was launched in 2021. The reform is aimed at strengthening the country’s energy security, improving the energy efficiency of public, industrial, and residential buildings, and supporting the ongoing reforms of the electricity market.
The goals of the four-year programme are to attract private investments and strengthen the competitiveness of the economic sectors in Georgia through the improvement of energy efficiency as well as develop renewable energy and reduce GHG emissions.
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