Masdar and GEDF to develop 100MW solar PV project in Georgia
Georgia, which primarily relies on hydropower for electricity generation, is looking to enhance its energy security and diversify its energy mix
A solar photovoltaic (PV) power project with a capacity as much as 100MW is to be developed following the signing of an agreement between Masdar and the Georgian Energy Development Fund (GEDF). The project will be Georgia’s largest solar power plant, Masdar noted.
As per the terms of the agreement, Masdar and the GEDF will jointly progress the development of the project, which is being carried out as part of a larger framework agreement signed with the GEDF this year to develop renewable energy projects in the Eurasian nation, said a statement from Masdar.
The agreement will support Georgia’s energy diversification efforts, and will make a positive contribution on climate action, stated Mohamed Jameel Al Ramahi, CEO of Masdar, after signing the deal with Giorgi Chikovani, CEO of the GEDF.
Al Ramahi added, “As a global leader in renewable energy, with projects in almost 40 countries, we look forward to working with the Georgian Energy Development Fund and the Government of Georgia on further renewable energy opportunities and will leverage our experience to support the nation’s economic development.”
The joint development agreement (JDA) was signed in the presence of Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Natela Turnava, Minister of Economy and Sustainable Development for Georgia, in a ceremony at the Leadership Pavilion at EXPO 2020 Dubai.
Chikovani stated that Georgia strongly follows its route and in accordance with the country’s strategy continues its utilisation of renewable energy sources. He added, “This agreement, which aims to develop a solar project with one of the world’s leading renewable energy companies, is a precondition for achieving the priority goals and targets of the state energy policy. Development of similar projects will strengthen the energy security of Georgia, contribute to diversification of energy sources and increase the share of renewable energy in the power generation mix.”
The GEDF is a joint stock company founded by the Ministry of Economy and Sustainable Development, and is wholly state-owned.
