Abu Dhabi's Masdar adds solar project in Georgia to its overseas portfolio
UAE's renewable energy company has been steadily expanding its reach in Eurasia
Dubai: Abu Dhabi’s renewable energy company Masdar will develop a 100 MW solar photovoltaic power project in Georgia, in a further expansion of its interests in that part of the world. The project, to be jointly developed with Georgian Energy Development Fund, will be largest solar power plant in the country.
“This landmark agreement will support Georgia’s energy diversification efforts, and will make a positive contribution on climate action,” said Mohamed Jameel Al Ramahi, CEO of Masdar.
Masdar and the GEDF will “jointly progress” the development of the project, which is being carried out as part of a larger framework agreement signed with the GEDF this year to develop renewable energy projects in the Eurasian nation. GEDF is a joint stock company, founded by Ministry of Economy and Sustainable Development, and wholly state-owned.
Georgia, as of now, primarily relies on hydropower for electricity generation. “Development of similar projects will strengthen the energy security of Georgia, contribute to diversification of energy sources and increase the share of renewable energy in the power generation mix,” said George Chikovani, CEO of GEDF.