On August 26, 2019, Georgian International Energy Corporation and Turkish company AGE Group signed a Memorandum of Understanding. The aim of the parties’ agreement is to implement a joint project, which envisages relocation of 205 MW capacity combined cycle thermal power plant from Denizli region in Turkey to Georgia (Gardabani). High efficiency 205 MW combined cycle thermal power plant will enable the Georgian side to provide electricity generation at a low cost price, which will contribute to the country’s energy independence. The Memorandum of Understanding was signed by the CEOs of the companies, Sirivural Buluni and Oleksi Vilkhovoi.
The founder, general director and financial director of AGE Group attended the meeting, which was held at the central office. Turkish Joint Stock Company AGE Group operates in several sectors on the territory of the country. The scope of the Company’s activity includes: construction, energy, real estate and wholesale of electricity. The meeting was also attended by legal and financial directors of AGE Group. The Georgian side was represented by Davit Bezhuashvili, the Founder of GIG, Lasha Mikava, CEO of the Company and Zurab Gelenidze, the Financial Director.