The Georgian government has approved a new mechanism to support power plants and renewable energy sources today.
As Minister of Economy and Sustainable Development of Georgia, Natia Turnava says, while trading on the energy exchange, the government has set the rule which implies the following: individuals and companies investing in small and average HPPs will trade on the exchange.
Along with the income, they will receive 1.5 US cents per kWh of the generated power.
"The mechanism partially relies on a market principle. But the state support remains active and ensures the neutralization of market prices change risks," Minister Turnava said.
As she specified, it is a European practice, leading to investment in energy to become more attractive.
"Energy is one of our most important industries, as it ensures economic and energy independence," Natia Turnava said.
Bela Gelashvili
News Author