As the Georgian Deputy Economy Minister Romeo Mikautadze said, ,,optimal development of renewable energy sources is the cornerstone of the national security, economic and political progress of the country.

Speaking at an energy project matchmaking event organized by the United States Agency for International Development, Mikautadze also added the energy sector had always been one of the reliable areas of successful cooperation between the US and Georgia.

“By late 2023, we expect to complete the construction of hydroelectric power stations with an installed capacity of approximately 118 megawatts, which, in total, will increase the electricity production of our country by more than 540 GW/h annually”, Mikautadze said.

Deputy Economy Minister added implementation of the projects would not only improve energy parameters in the country but also attract millions of Georgian lari as a foreign investment and employ hundreds of people.

Mikautadze also emphasised the Black Sea submarine cable project, which aimed to strengthen the regional connection and electricity exchange between the Caucasus and Europe.