The Ministry of Economy and Sustainable Development in Georgia has invited bids for 300 MW renewable energy capacity, including for 70 MW solar power plant capacity, with another 70 MW to come from wind power, 10 MW from other renewables and 150 MW from downstream hydropower stations.
In a brief announcement on its website, the ministry said the auction is aligned with the government's Resolution N556 cleared on December 7, 2022. Interested applicants need to submit their applications to the Power Auction Commission.
Speaking to local news portal Business Partner, Helios Energy Georgia Founder Tornike Darjania said the auction will be held under the framework of the contracts for difference (CFD) mechanism. He said this the 1st auction announced by the Economy Ministry and it will determine the development of future auctions.
According to the International Renewable Energy Agency (IRENA), Georgia is mainly reliant on hydropower for its electricity needs, followed by fossil fuels, with minuscule solar power capacity of 1 MW at the end of 2021.
Abu Dhabi's Masdar announced a 100 MW solar PV plant in Georgia back in January 2022 calling it the largest planned solar project in the country back then (see Masdar To Develop 100 MW Solar Plant In Georgia).