The Georgian government will write off GEL 1 billion in accumulated fines and penalties for companies operating in the energy sector that are developing renewable energy projects, GD Prime Minister Irakli Kobakhidze announced at a briefing. The measure aims to remove financial barriers and stimulate sector growth.
The debt forgiveness comes with a specific reservation: if companies fail to meet renewed project deadlines or act irresponsibly, they will be required to pay both newly accumulated fines and the previously forgiven debts. This ensures companies remain motivated to implement projects on time.
According to Kobakhidze, the initiative is designed to foster mutual cooperation and responsibility between the state and energy companies. New agreements, project schedules, and obligations will be established to ensure accountability and maximize the benefits of renewable energy development for the country.
Kobakhidze emphasized that the decision marks a new stage in Georgia’s energy policy, aiming to boost economic development and independence. He also acknowledged the Ministry of Economy and Sustainable Development, led by Mariam Kvrivishvili, for preparing the decision and wished energy companies success in implementing renewable projects.
