MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Deputy Minister of Economy and Sustainable Development, Genadi Arveladze presented a ten-year (2014-2024) report on the results of the fulfilment of the obligations stipulated under the Association Agreement with Europe at the joint session of the Parliamentary Committees on Integration with Europe and Sectoral Economy and Economic Policy. The session was held in the Tsalenjikha Municipality, in the vicinity of Enguri HPP.

According to Genadi Arveladze, by signing the Association Agreement in 2014, Georgia undertook the obligation to bring Georgian legislation closer to the EU legislation, including in the direction of energy, which is divided into parts of electricity, natural gas, oil, hydrocarbon resource exploration and production, renewable energy and energy efficiency. Arveladze noted that in 2017, Georgia became a full member of the Energy Union, and with this step once again clearly confirming its commitment to harmonize the national energy legislation with the relevant directives and regulations of the European Union.

As Gennady Arveladze noted, 80% of the obligations stipulated by the Association Agreement in the field of energy have already been fulfilled, and the remaining work is planned to be completed within the next two years.

The Deputy Minister drew attention to the energy project of regional importance, according to which the energy systems of Georgia and Romania will be connected to each other through an underwater cable passing through the bottom of the Black Sea. Currently, Azerbaijan and Hungary are also involved in the project. According to Arveladze, in the same year, the government of Georgia approved a new support scheme for the production and use of energy from renewable sources, which significantly encouraged the implementation of energy projects in Georgia in the form of public-private cooperation, based on competitive capacity auctions. Within the framework of the mentioned mechanism, 2 capacity auctions for a total of 1100 MW capacity were already held in 2023-2024.

Genadi Arveladze drew attention to the measures implemented to improve the energy security. "In the last 10 years, 8 substations and various power transmission lines, including double-chain lines, as well as about 738 MW power stations, including 57 hydro and 1 wind power station, were built and put into operation," – the Deputy Minister noted.

Genadi Arveladze singled out the high-level energy dialogue between Georgia and the European Union in 2023, which, in the future, will further deepen Georgia's cooperation with the European Union in the energy sector.

In the report, the Deputy Minister also focused on the opening of the energy market, unbundling of transmission system operators, national integrated energy and climate plans and other important issues. According to Arveladze, Georgia has shown significant progress in terms of bringing the energy sector into compliance with the EU standards, and this process continues actively today.

Heads of the Ministry's economic profile departments and state energy companies also participated in the session.