The economy minister says the government has made the changes to support its renewable energy project program and attract investment

Georgian Economy Minister Levan Davitashvili said on Monday that the government has introduced changes to the support program for renewable energy projects to speed up its operation and attract investments in renewable resources.

The minister said that the new support mechanism, developed in cooperation with the International Monetary Fund and the World Bank, assumes support in the form of a fixed price to reduce commercial risk in the implementation of energy projects.

This approach is expected to encourage more private investors and developers to engage in renewable energy projects, he added.

The changed support system will enable the government to offer energy projects to potential investors at fixed prices determined through auctions.

This year we will be able to support projects faster and more flexibly. Projects that took part in the auction but could not be included in the capacity limit will now have the opportunity to negotiate directly with the Ministry to receive a support program in the form of a fixed price, not exceeding the median price for various types of projects, said Davitashvili.

If they are willing to continue the projects, the state will provide support. This change is expected to significantly accelerate this process and favor investments in renewable energy sources,” he added.

The minister also touched on projects that could not be implemented, stating that the government had established “clear mechanisms” and “enhanced guarantees” to support qualified developers and investments.

Davitashvili expressed confidence that “many” power plants will be launched in the country this year, with “active investments.” He also emphasized that the years 2025–2026 will be particularly active in terms of energy initiatives.