Electricity generation from hydro, wind and solar sources increased year-on-year in July, while thermal generation declined, according to Galt & Taggart’s July electricity market review. Over the first seven months of 2026, hydropower generation decreased, while wind, solar and thermal generation increased.
“July was the final month of surplus generation, supported by lower domestic consumption and favorable hydrological conditions. Despite higher exports, thermal generation declined year-on-year. As a result, the supply surplus was lower than in May and June, leading to fewer generation restrictions,” the investment bank said.
In July, total hydropower generation increased by 3.9% YoY to 1.4 TWh, accounting for 98.1% of total supply. Generation at the Enguri-Vardnili cascade rose by 8.8%, while output from other hydropower plants declined. Meanwhile, wind and solar generation increased 2.1-fold YoY, driven by the commissioning of new facilities, including 10.8 MW of solar and 18.8 MW of wind capacity.
Thermal power generation fell sharply in July, accounting for just 0.4% of total supply, compared with 4.0% a year earlier, at 0.01 TWh. Over the first seven months of 2026, hydropower generation declined 5.3% YoY, while wind and solar generation rose 61.6% and thermal generation increased 18.6%. Electricity imports also grew 16.9%, bringing the combined share of imports and thermal generation in total supply to 26.5%, up from 22.5% in 7M25.
