The General Director of ESCO Mr Kakhaber Keburia participates in the conference Promoting Business Networking in the Energy Sector

The General Director of the Electricity System Commercial Operator Mr. Kakhaber Keburia, together with the representative of ESCO, participated in the conference  Promoting Business Networking in the Energy Sector, organized by the United States Agency for International Development (USAID). The event was attended by representatives of public, private, donor, and investor companies in the energy sector, as well as financial institutions. The Director of USAID/Georgia Economic Growth Office Mr. Michelle Koselski and USAID Georgia Energy Futures Program Manager Mr. Robert Taylor introduced themselves to the conference participants.

First Deputy Minister of Economy and Sustainable Development Mr. Romeo Mikautadze addressed the conference and discussed plans and projects in Georgia's energy sector.

Special emphasis was placed on a large-scale energy project - the Black Sea Submarine Energy Cable, which aims to strengthen regional connectivity and opportunities for electricity exchange between the Caucasus and Europe, as well as to support investments in the field of renewable energy.

The First Deputy Minister drew attention to the capacity auction, which has already taken place and aroused great interest of investors, and noted that the support scheme - the so-called "Contract for Difference" (CFD) is a good argument for negotiations and cooperation with financial institutions and will help potential investors to attract financing.

(In 2023, at the request of the Ministry of Economy and Sustainable Development of Georgia, a package of proposals was prepared by the Electricity System Commercial Operator (ESCO). This package refers to the changes in the relevant normative documents for the purchase of electricity with the winning companies in the capacity auction announced by the Ministry of Economy and Sustainable Development. The mentioned mechanism ensures that the state fulfils its obligations to the winning companies of the auction.)

The goal of USAID's partnership with Georgia is to modernize our country's energy sector and promote investments in reliable energy supply and renewable energy so that Georgia can reduce its dependence on imported energy, increase generation, create new jobs, move closer to Europe, and contribute to global efforts related to climate change.