Prime Minister Irakli Kobakhidze announced that the government has completed the conditional amnesty process for fines and penalties imposed on energy projects. A total of 157 companies benefited from the relief, with around GEL 1 billion in fines conditionally forgiven.
According to Kobakhidze, some companies declined the offer, resulting in the termination of projects totaling 535 MW in capacity. However, projects amounting to 1,500 MW will move forward. The Prime Minister noted that this decision will give new momentum to the development of Georgia’s energy sector.
The policy was first announced in December, when the government stated it would forgive around GEL 1 billion in fines in the energy sector under the condition that companies do not violate project deadlines again. If they do, the forgiven fines will be reinstated.
