MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

The Minister of Economy and Sustainable Development of Georgia, Natia Turnava, heard the annual reports of the state-owned energy companies - Georgian State Electrosystem and Sakrusenergo. 

Summary report of the Georgian State Electrosystem was presented by the Chairman of the Board of Directors of the Company, Ucha Naneishvili. The Chairman of the Company reviewed the works carried out during 2019 for strengthening of internal network and connection of new generation sources to that network, which made Georgia's power grid even more reliable and stable. 

Ucha Naneishvili also talked about the future plans and infrastructure projects that are to be implemented with the support of international donor organizations or through the GSE's own resources, after the completion of which, through its internal energy resource Georgia will be able to respond to the significant challenges posed by the increased electricity supply rate.

According to the Chairman of the Board of Directors of the Company, it is crucially important to increase the regional infrastructure bandwidth to reduce the country's dependence on imported resources and enable the export of surplus electricity generated in Georgia. 

It was also noted that the Company is about to finish 2019 with an operating profit. Similar results have been made by another major state-owned energy company – JSC UES Sakrusenergo, which owns and operates 500kV, 330kV and 220kV electricity transmission lines, including, the Georgian power system lines connecting with Russia, Azerbaijan and Turkey. As the Director General of Sakrusenergo Bachana Suladze states, importantly, the Company's electricity transmission infrastructure was functioning smoothly in 2018-2019, due to which, there was no emergency shutdown of the system during this period. According to Bachana Suladze, the financial indicators enable the Company to implement projects elaborated within the frames of the Ten Year Network Development Plan of Georgia, which are important both for the sustainability and reliability of Georgia's power system and the Company's further development.

 “The sustainability of the power grid is crucial to Georgia's uninterrupted power supply. It is also necessary to make additional investments in the mentioned infrastructure taking the reality into account the country will definitely face after new hydro power plants are built. Our energy system will become more involved in the European energy network. Therefore, it should be stressed that both Companies - Georgian State Electrosystem and Sakrusenergo - are financially sustainable structures today. Both Companies ended 2019 with an operating profit, which is a good example for other state-owned companies,” - Natia Turnava, the Minister of Economy and Sustainable Development said after the presentation.

The Ministry leadership similarly plans to hear annual reports of the structural units and profiled state-owned companies included in its system.