Lasha Iordanishvili, CEO of the energy company Peri, says the company has secured around $200 million from the European Bank for Reconstruction and Development (EBRD) to finance the 206-megawatt wind and solar power project under construction in Ruisi. He made the comment while addressing concerns about whether investment in Georgia’s energy sector has become more difficult following stalled large-scale projects and the state’s loss in international arbitration over Namakhvani HPP.
According to Iordanishvili, despite challenges, the sector continues to attract strong interest from international and local financial institutions. He emphasized that although development banks often finance state-led projects, they also work directly with private companies, provided the projects have solid structures, including clear regulatory frameworks, memorandums, and CFDs. He noted that Georgia has never lacked potential investors in renewable energy.
Iordanishvili highlighted that in recent years Peri, together with Georgian banks and the EBRD, has brought roughly 250 megawatts of capacity online, representing about $350–400 million in investment. Looking ahead, the company expects to add another 300 megawatts over the next two to three years, amounting to about GEL 0.5 billion in investments. He stressed that when projects are healthy and co-financing is robust, local banks respond quickly and support development.
Discussing the progress of the Ruisi wind farm, he said that the first turbine tower has already been installed near the Gori tunnel, with a total of 35 turbines planned for the site. At present, Georgia operates only one small wind farm with a capacity of 21 megawatts, which generated 71 million kWh during the first ten months of this year.
