Baku, Azerbaijan, June 17
Trend:
Georgian State Electric System LLCand German Development Bank KfW signed an agreement on implementation of large-scale construction and rehabilitation projects in Georgia, Trend reports with reference to commersant.ge. The document was signed by member of the Board of Governors of Georgian State Electric SystemUcha Uchaneishvili and Director of KfW for the countries of the South Caucasus region Klaus Weigel
According to Head of the LLC David Tvalabeishvili, the German Development Bank will support projects in the field of rehabilitation and construction of power lines and the introduction of energy efficient technologies. The agreement also provides for full rehabilitation of the transmission network in Kakheti, as well as the rehabilitation of substations and rehabilitation work in Kakheti with the financial support of the German Development Bank.
The projects also envisage the construction of cross-border infrastructure, which will further increase the country's energy supply and facilitate export and import operations. They will enter active phase in 2020, and the work is to be completed in 2022. The financial resources allocated under the program of the German government bank will be one of the strategic activities of the country in expanding the electricity transmission network and strengthening the energy system.
“Considering the annual electricity consumption, it is very important to have the infrastructure for the production of high-quality electricity, and we will develop this area with the support of international partner organizations,” said David Tvalabeishvili.
At present, in the framework of financial and technical cooperation, Germany has allocated more than 1 billion euros for Georgia's public sector, alongside technical assistance and a soft loan. Current investment projects financed by Germany amount to about 345 million euros.