Georgia simplifies procedures for investing in renewable energy

The development of the energy sector in Georgia is a government priority in the context of growing electricity consumption. In this regard, a renewable energy support scheme has been developed in the country, which includes assistance in the construction of power plants with a total capacity of 1,500 megawatts, the Economy Ministry of Georgia said, Report informs via Georgian local media.

"From September 2, 2024, beneficiaries of the Renewable Energy Support Scheme will be able to sign an agreement with the Georgian government on the construction of hydro, solar and wind power plants through direct negotiations, which will help stimulate investments and interest in the sector," the ministry says.

The Georgian government plans to attract investments of $3-4 billion in the next couple of years to accelerate the development of the industry.