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Study on prospects of developing green hydrogen in Georgia is to be launched within the frames of the Declaration of Intent, which was signed today between the Ministry of Economy and Sustainable Development of Georgia and the German Development Bank (KfW). The document shall provide the development of the first pilot project in Georgia, which will ensure the development of clean and renewable energy in the country.
The main goals of the Declaration signed today are as follows:
- Assessment of the prospects and benefits of green hydrogen in Georgia;
- Implementation of the first pilot project, which will provide benefits to the economy and, consequently, help to attract investment to the country to develop clean and renewable energy;
- Reduce dependence on imported gas and increase security of supply;
- Increase the pace of development of renewable energy projects, mitigate carbon emissions and create export opportunities for the country.
Natia Turnava highlighted the importance of the fact that Georgia has already appeared on the map of green hydrogen study, in particular, the Energy Development Fund is actively working on the development of a pilot project, which will provide the first production of green hydrogen in Georgia. According to the Minister, this is a technology that allows to convert electricity into green hydrogen, especially for countries where there are renewable energy sources, including Georgia.
“As a result, it will be possible to transport energy from regions saturated with renewable energy projects to the regions with energy shortages. This is the technology of the future and we are very proud that Georgia will be one of the first countries in the region to implement this technology in the real life with the support of our German partners,” – Natia Turnava commented.
Today, Prime Minister Irakli Garibashvili hosted members of the Movement of the Enterprises of France at the Government Administration, and introduced them to Georgia's investment opportunities and favorable business environment.
The Head of Government emphasized Georgia's unique location, strategic relations, and FTAs with the EU, the CIS, Turkey, and China, an opportunity for foreign investors to reach multimillion markets freely.
Irakli Garibashvili thanked the French entrepreneurs for visiting Georgia and taking an interest in the country's investment opportunities, also promising investors maximal support from the Government of Georgia.
According to the Prime Minister, the visit by a large delegation of French businesspersons bears witness to France's immense interest in Georgia's market, a fact that must be both commended and cherished.
The delegation of the Movement of the Enterprises of France consists of entrepreneurs involved in infrastructure, construction, engineering, agriculture, energy, and other industries. They are studying prospective investment projects in Georgia. As part of their visit, they are scheduled to meet with various institutions.
The meeting at the Government Administration was attended by France's Ambassador to Georgia Diego Colas, Georgian Vice Prime Minister/Minister of Environmental Protection and Agriculture Levan Davitashvili, Minister of Economy and Sustainable Development Natia Turnava, and Head of the Government Administration Ilia Darchiashvili.
Press Service of the Government Administration