MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

First Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili spoke about trends in the energy sector of Georgia, ongoing and planned reforms and major infrastructure projects at the Economic Forum – Georgian Energy Policy, Energy Security and Renewable Energy.

The First Vice Prime Minister emphasized the importance of the energy sector for the development of the country underlining that the policy is the direction that is the basis of the proper economic policy as well as the security of the country. Levan Davitashvili focused on the strengthening of the country's energy security, increasing the share of local electricity in the energy balance and increasing the exports.

"With the election program, we introduced specific target indicators to the public. In particular, we are talking about the doubling of energy generation by 2030, which requires several billion investments in the energy sector. Georgia has great opportunities for electricity production from renewable energy resources, we are talking about both traditional hydro resources as well as wind and solar sources. We have to do everything to fully absorb these energy resources - we have an ambitious plan to have an installed capacity of up to 10 GW by 2030," – Levan Davitashvili stated.

Levan Davitashvili attached great importance to attracting private investments in the field. According to him, it is still relevant to attract even more investments to the energy and interest more investors. "Our energy policy involves the encouragement of private investments, although we understand that the energy sector is specific, special, and the role of the state is important along with the private sector. Unlike many other sectors of the economy, the dialogue between the private and public sectors in energy is of the utmost importance," – the First Vice Prime Minister added.

The First Vice Prime Minister also focused on the power transmission infrastructure and coordinated work with the energy systems of neighboring countries. He also highlighted the global energy project through which the energy system of Georgia will be connected to the European Union through the Black Sea submarine cable.

Giorgi Abashishvili, the Founder of "Business Insider of Georgia" and the Economic Forum, Davit Narmania, the Chairman of Semek, and Archil Gachechiladze, the Executive and General Director of the Bank of Georgia Group, also participated in the Forum.

Representatives of energy companies, members of the Georgian Business Association, also attended the event.