MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

All companies operating in the energy sector that are involved in the development of renewable energy projects will have been waived under specific conditions their accumulated fines to the state, with a total volume of 1 billion GEL.

The specific conditions are as follows: in order to prevent companies from continueing irresponsible activity and accumulate new fines, but to seriously approach the state initiative to relaunch the sector, in case of violation of the renewed deadlines, they will be fully liable for the payment of the newly accumulated penalty and fine, and concurrently, the fines forgiven by the current decision will also be reinstated.

The freeing from the debts under specific conditions serves two goals – on the one hand, to remove the financial barrier for companies in the process of implementing energy projects, and on the other hand, to maximize the companies’ motivation to implement the planned projects within the appropriate deadlines.

This decision will give a new impetus to the development of the energy system, which is of crucial importance for the country’s economic development and the strengthening of economic independence.