MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Within the working visit to Austria, Deputy Minister of Economy and Sustainable Development, Genadi Arveladze, continues meetings with representatives of leading Austrian energy companies. This time, Genadi Arveladze held meetings with Alexander Schwab, Senior Vice President of ANDRITZ Hydro, a global supplier of electromechanical equipment and services for hydropower plants, and Stefan Szyszkowitz and Alexandra Wittmann, Directors of the Supervisory Board of EVN, the largest investment company operating in the "green energy" sector.

Genadi Arveladze provided the Austrian energy sector representatives with the comprehensive information on all matters of interest to them. As Arveladze noted, Georgia is one of the richest countries in renewable energy resources, with enormous potential for their development, as well as for the technological development of the sector.

"It is important that ANDRITZ Hydro has been involved in various large energy infrastructure projects in Georgia since 1950 and is very familiar with the Georgian energy market. The company is interested in participating in large infrastructure energy projects that we plan to implement over the next five years – this concerns Nenskra, Namakhvani, and similar large projects. It is important to introduce ANDRITZ technologies, their equipment, and also the 'smart solutions' that contribute to the growth of electricity production and its efficient use in such projects," – Genadi Arveladze said.

As Alexander Schwab, Senior Vice President of the company stated, the Georgian energy market and its potential remain within ANDRITZ's sphere of interest. "This promises a very good and promising future in the energy sector. We are already present in the country, we are considering future projects, and we will enthusiastically support the Georgian government in the further development of the energy sector, including in the direction of hydropower, solar, and wind energy" – Schwab said.

The Directors of the Supervisory Board of EVN also expressed interest in Georgia’s energy potential. This is one of the largest holdings that invests in green electricity in Austria and in various markets around the world. According to Genadi Arveladze, the company is interested in visiting Georgia to explore investment opportunities in hydropower. The Black Sea Submarine Cable project is of particular interest to the company, as it will provide access to the European market. The company is interested in investing in green electricity, particularly in hydropower and renewable energy, where Georgia has a large untapped potential.

"The company plans to hold negotiations with various business partners regarding ongoing projects. Their interest also stems from the fact that Georgia will soon join the EU energy system through the Black Sea submarine cable, which will enable the export of green electricity produced in Georgia to the EU market. Therefore, their first exploratory mission, which will take place in Georgia in May, is important, and we hope that further negotiations will continue with both the government and the private sector," – the Deputy Minister of Economy and Sustainable Development said.

Stefan Szyszkowitz, Chairman of the Supervisory Board of EVN, speaks about the company's interest. According to him, Europe needs electricity, especially renewable energy, and Georgia has a lot to offer in this direction. "I think that good cooperation between Georgia and Europe, between European companies, would greatly help the development of the region and Europe. Today, at this meeting, we discussed the Black Sea cable project - such a project would be an important step for the cooperation and interconnection of the European and Georgian electricity markets" – Szyszkowitz noted.