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Georgia is open for business

06.04.11

On 25th March the Government Guesthouse in Parkveien was the venue for a meeting between a official delegation from Georgia and a selection of Norwegian energy industry representatives. The delegation was headed by the Georgian Foreign Minister Mr. Grigol Vashadze accompanied by the Deputy Minister of Energy Mr. David Kereselidze.


Georgia has turned a situation of electricity deficit in 2004 to a surplus in 2010. And the plans for the future includes being a hub for electricity production and a reliable transit country in the region. The greenfield potential is estimated to be 20TWh, only 18% of the total hydro potential is utilised.

 
56 hydropower sites have been offered to potential investors on a build and operate basis. One of the companies that has seen the opportunity in Georgia is the Norwegian company Clean Energy Invest. The company, with their investor Norsk Mineral and IFC has developed two sites in the southern region with a possible start of construction in 2013. A signing ceremony is planned for after Easter possibly with the presence of the president of the IFC. The Georgian Foreign Minister promised high level participation from the government. 
 
The foreign minister concluded the meeting by expressing gratitude for the Norwegian interest in doing business in Georgia and welcomed an energy delegation to Georgia in the connection with the Norwegian foreign minister’s visit in November.


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