Georgia developing alternative energy

Georgia has begun developing alternative energy with the construction of solar and wind power stations.

A memorandum of cooperation in this field was signed on December 18 between the Georgian Energy Ministry and the American company Aeolus Apollo Alto Energy. From the Georgian side the document was signed by Energy Minister Kakha Kaladze and from the American side by company Director Mukemmel Sarimsakci.

In addition, a partnership agreement in alternative and renewable energy was also signed between the U.S. company and the Georgian Energy Development Fund. From the Georgian side the document was signed by the investor and head of the fund Giorgi Bezhuashvili.

According to the agreement, a new company will be established in Georgia that will implement projects on construction in the country of solar and wind power stations with a capacity of up to 400 megawatts. The Georgian Energy Development Fund's share in the new company will be 15 percent and Aeolus Apollo Alto Energy 85 percent.

At the first stage, a feasibility study of the construction of the new power plants will be prepared. After which, the company will proceed to the selection of areas for their construction. (Trend)