Georgian Government Introduces Changes to Support Renewable Energy Project Scheme

Georgian Economy Minister Levan Davitashvili on Monday said the Government had introduced changes to its support scheme for renewable energy projects with the aim of expediting its operation and attracting investment in renewable resources.

The Minister said the new support mechanism, developed in collaboration with the International Monetary Fund and the World Bank, involved fixed price support to mitigate commercial risks in energy project implementations.

This approach is expected to encourage more private investors and developers to engage in renewable energy projects, he added.

The revised support scheme will allow the Government to offer energy projects to potential investors at fixed prices determined through auctions.

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