MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili delivered a speech at the conference dedicated to investments in the field of renewable energy.

Davitashvili introduced to the participants of the conference the existing priorities and specific projects in the direction of the development of the field of renewable energies and in general, the energy security of the country. As Levan Davitashvili noted, Georgia aspires to become a part of the Western democratic world, a member of the European Union and the NATO. One of the important prerequisites for achieving this goal is the improvement of the country's energy security.

“Georgia’s energy system is in an active development phase. The reforms are mainly due to the association agreement signed with the European Union and joining the Energy Union. This implies such a development of the energy system of Georgia, which will bring it even closer to European principles,” – Levan Davitashvili noted. The Minister highlighted that according to the Association Agreement, Georgian legislation will be in compliance with the European directives, which will determine more liberal and transparent market relations in the energy sector.

Comprehensive development of all links in the energy sector is a task that, according to the Minister, will ultimately lead to the development of renewable energy generation projects in the country and improvement of energy security and independence, and will make the economy more competitive.

Vice Prime Minister noted that one of the most important, strategic projects, which is being worked on, is the Black Sea submarine cable project, which envisages the arrangement of a high-voltage underwater transmission network – it should connect the electric energy systems of Georgia and Europe.

Levan Davitashvili provided detailed information about the project to the conference participants. According to the Minister, the project is being studied and designed in detail together with the World Bank, which he predicts will be completed within a year.

In addition to government representatives, representatives of the private energy sector, diplomatic corps and international donor organizations took part in the conference.