Masdar, one of the world’s leading renewable energy companies, has completed an agreement with the Georgian Energy Development Fund (GEDF) to develop a solar photovoltaic (PV) power project in Georgia. The project could potentially reach a capacity of 100 megawatts (MW). The project will be jointly developed with the GEDF and will result in Georgia’s largest solar power plant.
Signing ceremony
The JDA between Masdar and the GEDF was signed in the presence of Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Natela Turnava, Georgia’s Minister of Economy and Sustainable Development, in a ceremony yesterday at the Leadership Pavilion at Dubai Expo. The agreement was signed by Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Giorgi Chikovani, CEO of the GEDF.
Al Ramahi spoke about the agreement, saying, “This landmark agreement will support Georgia’s energy diversification efforts, and will make a positive contribution on climate action. As a global leader in renewable energy, with projects in almost 40 countries, we look forward to working with the Georgian Energy Development Fund and the Government of Georgia on further renewable energy opportunities and will leverage our experience to support the nation’s economic development.”
Chikovani added, “Georgia strongly follows its route and in accordance with the country’s strategy continues its utilisation of renewable energy sources. This agreement, which aims to develop a solar project with one of the world’s leading renewable energy companies, is a precondition for achieving the priority goals and targets of the state energy policy. Development of similar projects will strengthen the energy security of Georgia, contribute to diversification of energy sources and increase the share of renewable energy in the power generation mix.”
Working together
Masdar and the GEDF will work together on the development of the project, which is being carried out as part of a larger agreement signed earlier this year that aims to develop renewable energy projects in Georgia. The GEDF is a joint stock company, founded by Ministry of Economy and Sustainable Development, and wholly state-owned. Georgia primarily relies on hydropower for electricity generation and the PV project undertaken with Masdar help to diversify its sources of electricity and provide resource security.
Masdar was created to consolidate all of Abu Dhabi’s green energy initiatives under one roof.
