Wind Asset Management 2017
Following successful energy events organised in Georgia in the previous years and our rapid expansion within the Caucasus energy market Green World are pleased to announce that the 2nd Georgia Wind Energy Development GWED 2018 conference will take place in Paris on June 14th, 2017.
This one-day conference is a part of Georgia Energy Week 2018 expo and conferences organised in co-operation with the event supporters: the Ministry of Energy of Georgia, JSC “Georgian Energy Development Fund” and Galt & Taggart.
France wind power landscape:
Georgia has an important wind energy potential, which is estimated to be able to annually generate 4 billion kilowatt-hours. By the natural energetic potential, the territory of Georgia is divided into four zones:
France wind power developments:
The first wind power plant in Georgia and the Caucasus region was launched on 06 Oct 2016 by the high representatives of the government of Georgia and The European Bank for Reconstruction and Development (EBRD).
In a landmark project for Georgia’s energy sector, the EBRD was supporting the first commercial wind power plant in the South Caucasus in the Gori municipality in central Georgia. The farm will set a benchmark in terms of developing, building and operating a greenfield renewable energy project.
The EBRD has arranged a US$ 22 million syndicated loan to the company Qartli Windfarm LLC for the development, construction and operation of the wind farm. The Bank itself is providing a US$ 10 million tranche (the A loan), and the remaining US$ 12 million B loan has been syndicated to the Dutch impact investors OIKOCREDIT, Ecumenical Development Co-operative Society U.A; Triodos Groenfonds N.V.; and the Luxembourg-based Green for Growth Fund (GGF). Each has a US$ 4 million portion.
The wind farm will have a total installed capacity of 20.7 MW and an expected annual electricity output of 85 GWh. It will foster low carbon generation and cover Georgia’s seasonal demand during the winter, while one-third of the power is expected to be sold to Turkey on a commercial basis. As the first wind farm in Georgia, it is expected to act as a model for other investments in this sector and support the diversification of the country’s renewable resources.
The EBRD has also facilitated technical assistance funds that will help the Georgian government to design and implement an electricity trading platform, along with a solar resource assessment and mapping.
Aida Sitdikova, EBRD Director for Energy and Natural Resources in Russia, the Caucasus and Central Asia, said: “The EBRD stands ready to support Georgia in promoting renewable energy sources and this project confirms our determination to continue making significant investments in renewable energy. This is important in terms of energy security as well as mitigating the impact of climate change. After having invested more than US$ 336 million in Georgia’s energy sector, we are now hoping to make another renewable source – wind – attractive for investors.”
Currently JSC “Georgian Energy Development Fund” is searching for an investor to establish a Joint Venture Company for development and construction of the Zestafoni Wind Power Plant Project. Project area for the above-mentioned project is located in the region of Imereti, nearby to the city of Zestafoni and estimated installed capacity amounts to 150 MW. Full information about the tender can be found here