International consultancy company helps Georgia create energy development strategy

Georgia should finish the digitalization process before the deadline of June 2015. Photo by N. Alavidze/, 02 Mar 2018 - 13:35, Tbilisi,Georgia

The international consultancy company McKinsey&Company is helping Georgia create an energy development strategy, Georgia’s Ministry of Economy has announced.

Georgia’s Economy Minister Dimitry Kumsishvili met with the representatives of the McKinsey&Company yesterday in Tbilisi and discussed the main directions of Georgia’s energy sector development strategy.

Significant components of the strategy, including internal growth and the rational use of energy resources, the facilitation of the sector in order to establish the country as a regional hub for the electricity trade and the improvement of the long-term electricity export-import balance were discussed during the meeting.

Georgian delegation met representatives from the McKinsey&Company yesterday. Photo from Georgia's Ministry of Economy.

The dialogue also focused on issues such as ensuring the long-term security of the electric power system, challenges for the formation and development of power markets, development of renewable energy sources, etc.

To note, Georgia also strives to become a regional hub for electricity trade. Large European energy companies Nord Pool and Bluberries are helping Georgia to achieve this goal by preparing recommendations for the country.

Georgia’s Ministry of Economy has already signed a Memorandum of Cooperation (MoC) with the European companies this week.