Renewable energy company Masdar will be developing Georgia’s largest solar power plant, with a capacity of 100 megawatts (MW), jointly with Georgian Energy Development Fund (GEDF).
GEDF is a joint-stock company, founded by the Ministry of Economy and Sustainable Development, and wholly state-owned. Georgia, which primarily relies on hydropower for electricity generation, is looking to enhance its energy security and diversify its energy mix.
The agreement was signed by Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Giorgi Chikovani, CEO of the GEDF.
Al Ramahi said, “This landmark agreement will support Georgia’s energy diversification efforts, and will make a positive contribution on climate action. As a global leader in renewable energy, with projects in almost 40 countries, we look forward to working with the Georgian Energy Development Fund and the Government of Georgia on further renewable energy opportunities and will leverage our experience to support the nation’s economic development.”
Chikovani said, “Georgia strongly follows its route and under the country’s strategy continues its utilization 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 precondition for achieving the priority goals and targets of the state energy policy.”
“Development of similar projects will strengthen the energy security of Georgia, contribute to the diversification of energy sources and increase the share of renewable energy in the power generation mix.”