MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Minister of Economy and Sustainable Development, Natia Turnava hosted the representatives of the Masdar, one of the leading companies of the Mubadala, the largest investment holding of the United Arab Emirates.

It should be noted that the visit of the company Masdar to Georgia took place in response to the meeting held within the framework of the official visit of the Minister of Economy and Sustainable Development and the Georgian delegation to the United Arab Emirates.

Deputy Minister, Davit Tvalabeishvili and Director of the JSC Georgian Energy Development Fund, Giorgi Chikovani attended the meeting. Prospects of future cooperation and investment by the company in the Georgian energy sector was discussed during the meeting.

“At today’s meeting, representatives of the Masdar, which is a state fund, expressed special interest in investing in the development of the solar and wind energy in Georgia. This fund is known for its activity in our region and for the fact that the new solar power plants developed by them are characterized by low energy tariffs, which is extremely important to increase our competitiveness in this regard.  Especially now when prices for oil, oil products, natural gas are rising all over the world. That is why we are implementing the agreement on joint projects with them at a fast pace,” – Natia Turnava commented.

Masdar is a global leader in renewable energy and sustainable urban development, developing renewable energy projects in the international market and improving innovation in clean technologies.