Page 64 - GEORptSep21

While Varhelyi didn't specifically comment on these matters, he did tell Capacity that domestic and foreign investment would both be key to meeting the €3.9bn investment potential.
He said: "We would expect the investment to come from within Georgia but also from other countries. The EU contribution will be a combination of blending grants, loans and in particular the guarantees under European Fund for Sustainable Development (EFSD+). This must be complemented by private sector or sovereign debt investments.
"We are working together with Georgia and all our partner countries to develop a pipeline of project proposals. Legal certainty, rule of law and trust in the judiciary are equally key elements to encourage (foreign) investment."
9.1.12 Renewable energy sector news
Hydropower plan protesters aim to “completely paralyse” Tbilisi
Hydropower plants association complains about level of activists’
Protesters against the construction of the $800mn and 433MW Namakhvani hydropower plant (HPP) in Georgia have set up tents in central Tbilisi. They are refusing to enter into any dialogue with the government until their requests—including the termination of the contract with the Turkish investor constructing the HPP and the resignation of economy minister Natia Turnava—are met by the authorities.
After a 24-hour ultimatum expired on May 24, activists pledged to start protests to “completely paralyse the capital”.
"There will be no dialogue until all the demands are met," said Varlam Goletiani, the leader of the Rioni Gorge Defenders, said in front of parliament, where a protest rally was being held against Namakhvani HPP. He called on residents of Tbilisi to join the demonstration.
So far, the protests have been peaceful—but this might not necessarily be the case in the future.
Prime Minister Irakli Garibashvili and other officials dismissed the demands of the Namakhvani HPP protesters as “an ultimatum,” and maintained their position that dialogue is necessary to better inform the activists on concerns about the controversial project.
“We offered a suitable dialogue format to the protesters... In addition, we invited the EU Special Representative, who will once again examine in detail all the details of this project, the effects of the environmental impact. I instructed the Ministry of Justice to re-examine the compliance of this project by independent law firms with international practice... At the end of the month, I will meet the founder and owner of the company, the investor, who will visit Tbilisi. I myself am involved and want to be aware of all details so that there is nothing contradictory in this agreement", Garibashvili said.
On April 24, the government announced that the construction of the Namakhvani HPP would be suspended for nine to 12 months until the environmental, geological and seismological surveys were reviewed and confirmed.
The ministry is to hire an international legal company to study the contract in the light of international norms and practices. Meanwhile, at the invitation of the government, a representative of the EU’s Energy Union will get involved in the mediation process with the non-governmental sector and study the environmental impact of the investment.
Most of the hydropower plant (HPP) projects in Georgia, with up to $4bn of investments, have by now been suspended due to protests, according to Giorgi Margebadze, executive director of the Association of Small and Medium Sized HPPs.
64 GEORGIA Country Report September 2021 www.intellinews.com