New Economic Activity – Electricity Production Added to Business Universal Component of Enterprise Georgia Agency
25-09-2023

Following the decision of the Government of Georgia, another economic activity - electricity production - was added to the Business Universal component of the Enterprise Georgia Agency. In order to benefit from a loan/leasing within the framework of this economic activity, it is mandatory to produce solar, wind or hydro energy and the installed capacity of a station should not exceed 0,5 MW.

First Deputy Minister of Economy and Sustainable Development, Romeo Mikautadze, Deputy Minister Irakli Nadareishvili and Director of the Enterprise Georgia Agency, Mikheil Khidureli introduced the relevant information to the representatives of electricity generation companies and answered their questions.

“This program will stimulate the construction of small hydropower plants in Georgia, which, on the one hand, is important on the way to our energy independence, and on the other hand, generate additional income, jobs and welfare in the country,” – First Deputy Minister of Economy and Sustainable Development, Romeo Mikautadze stated and commented, that within the framework of this program, one project has already been initiated at the Agency. As First Deputy Minister suggested, several dozen projects might be implemented within the project.

The purpose of Business Universal component of the Agency is to develop entrepreneurship in Georgia, support entrepreneurial entities, promote the creation of new enterprises, promote the expansion and retooling of existing enterprises, as well as increase the competitiveness of the private sector by increasing access to finance. In addition to small energy, such directions as the industrial sector, hotel industry, balneological resorts, tourist services, agro- and ecotourism industry are financed within the framework of the Business Universal program.

 


Ministry of Economy and Sustainable Development of Georgia. © 2021