MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

At the Ministry of Economy and Sustainable Development, an Agreement on Establishment of Joint Company was signed between the state company of the United Arab Emirates, Masdar and the Energy Development Fund of Georgia. The joint venture will implement the project of the largest solar power plant in Georgia. The document was signed by Jaba Khmaladze, Director of the Georgian Energy Development Fund and the Director of Abu Dhabi Future Energy Company Masdar, Mohamed Jameel Al Ramahi. 

After the signing ceremony, the First Deputy Minister of Economy and Sustainable Development of Georgia, Romeo Mikautadze, held a meeting with the representatives of Masdar. The meeting and the signing ceremony were also attended by Munira Almarzooqi, Acting Ambassador of the United Arab Emirates to Georgia.

Romeo Mikautadze noted that the new solar power plant, which is planned to be built in Gardabani Municipality, will reduce dependence on imports and diversify local sources of electricity supply, as well as contribute to the achievement of goals related to renewable energy and climate change and the fulfilment of the obligation under the Association Agreement.

According to Mikauradze, in the nearest future, it is planned to sign a Memorandum with the Government of Georgia and implement technical and economic studies.

At the meeting, the parties emphasized the attractive investment climate in Georgia, the government's support for the development of renewable energies, and, in parallel with the current project, discussed the prospects of further cooperation.

As the Masdar Director, Mohamed Jameel Al Ramahi stated, the project, which the company implements with its partners in Georgia, is an important example of cooperation between Georgia and the United Arab Emirates.

"Masdar is one of the world's leading and largest companies in the renewable energy sector. We clearly see how great the opportunities are in your country. The cooperation between Georgia and the United Arab Emirates is of a strategic nature and is of great importance as well. I think that we have taken a very important step in the direction of implementation the largest solar energy generation project in the region today, and most importantly, we see the prospect of implementing even more large-scale projects in the future," – Masdar Director, Mohamed Jameel Al Ramahi said.