Issue 4, 2018. August-September

   

INVESTOR SPOTLIGHT

Investor.ge is starting a column on new investments and investors to the country. Investor.ge spoke to Infinity Energy's Kresimir Condic about the company's plans to build a new wind farm in Georgia.


Infinity Energy became interested in investing in Georgia after hearing about the country's wind energy potential at an EBRD conference.

Jointly owned by Austrian Ivicom Holding GmbH and Georgian Consulteam Ltd., Infinity Energy is considering building an up-to-420-megawatts (MW) wind farm project in Imereti, with a capacity of 200 MW in its first stage and the rest in the second stage. Imereti is part of the Black Sea - Caspian Sea wind tunnel, which means there are good indicators for wind conditions in terms of energy production. Kresimir Condic notes Georgia's potential as a provider of wind-based energy and says that a memorandum of understanding has already been signed with the Georgian Ministry of Energy. Now the company is in the process of studying the wind conditions and investigating the potential environmental impact of the wind farms on the surrounding areas. Based on the study conducted, the selected territory is favorable in terms of environmental impact, as it is neither the primary, nor secondary route for migrating birds. It is also remote from the local population. Potentially, if all goes well with final negotiations with the government, construction on the project could begin in spring-summer 2019.