Georgia developing alternative energy

Photo: Georgia developing alternative energy / Oil&Gas

Tbilisi, Georgia, Dec. 18
By Nana Kirtzkhalia - Trend:

Georgia has begun developing alternative energy with construction of solar and wind power stations.

A memorandum of cooperation in this field will be signed on Dec.18 between the Georgian Energy Ministry and the American company Aeolus Apollo Alto Energy. From the Georgian side the document will be signed by Energy Minister Kakha Kaladze and from American side by company Director Mukemmel Sarimsakci.

In addition, a partnership agreement in alternative and renewable energy will be signed between the U.S. company and the Georgian Energy Development Fund. From the Georgian side the document will be signed by the investor and head of the fund Giorgi Bezhuashvili.

According to the agreement, a new company will be established in Georgia that will implement projects on construction in the country of solar and wind power stations with a capacity of up to 400 megawatts. The Georgian Energy Development Fund's share in the new company will be 15 per cent and Aeolus Apollo Alto Energy 85 per cent.

At the first stage, a feasibility study of the construction of the new power plants will be prepared after which the company will proceed to the selection of areas for their construction.

Translated by M.L.

Edited by S.M.

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