New Initiative for Renewable Energy Promotion

Giorgi Gigineishvili, General Director of Georgian State Electrosystem participated in the meeting introducing the renewable energy promoting component of "Business Universal" program.

At the meeting, the First Deputy Minister of Economy and Sustainable Development, Romeo Mikautadze, and Mikheil Khidureli, director of agency Enterprise Georgia, introduced the business sector to a new initiative on the financing of small renewable energy projects.

According to the decision of the Government of Georgia, another economic activity - electricity production - was added to the "Business Universal" component of Ministry of Economy and Sustainable Development agency Enterprise Georgia. Within the framework of the mentioned economic activity, in order to benefit from the loan/leasing, it is mandatory that the plant produced solar, wind or hydro energy and their installed capacity should not exceed 0.5 megawatts.

The purpose of the "Business Universal" program is to develop entrepreneurship in Georgia, support entrepreneurial entities and promote the creation of new enterprises.