MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Minister of Economy and Sustainable Development, Mariam Kvrivishvili, participated in the Energy Summit held in the capital of Greece, Athens, which was attended by more than 270 representatives from the countries of Southeast Europe and the East Mediterranean region. Among the event delegates were the Prime Minister of Greece, Kyriakos Mitsotakis; the President of Israel, Isaac Herzog; the Secretary General of the Gulf Cooperation Council, Jasem Mohamed AlBudaiwi; the European Commissioner for Sustainable Transport and Tourism, Apostolos Tzitzikostas; as well as ministers from various countries and heads of executive branches, financial institutions, and large investment companies.

Mariam Kvrivishvili delivered a speech on the important directions of Georgia’s energy sector at the ministerial panel titled “Delivering 2030 – Leadership commitments for the energy transition.”

“The energy sector contributes significantly to Georgia’s economic growth; however, it creates the greatest value for the country’s energy security and energy independence. Our national vision and strategy imply that Georgia maintains one of the fastest-growing economies, and it is gratifying that energy is a particularly high-demand direction for investment. We have made the energy sector a priority and our goal is for the installed capacity to reach 11500 megawatts over the next 10 years. This means that Georgia will not only be self-sufficient but will also have a great capacity for electricity export,” – Mariam Kvrivishvili noted.

According to the Minister’s assessment, Georgia, which is an integral part of the process of supporting EU energy security and independence, places great emphasis on the renewal and construction of infrastructure.

“Georgia has launched the crucial 1300-megawatt Black Sea Submarine Cable project, which will connect the country to the European energy market, and we are pleased that this project has already been granted the status of a Project of Mutual Interest by the European Union. We are also part of the Green Energy Corridor, which is a regional initiative and encompasses an average capacity of 4700 megawatts. It is with this spirit and a 10-year plan that Georgia will further strengthen its position as a regional hub, not only in energy but also in transit and logistics. The government will ensure investments of more than 1 billion dollars in energy infrastructure (transmission lines, substations, etc.) over the next 8-10 years,” – the Minister of Economy and Sustainable Development of Georgia stated.