Levan Vepkhvadze, the General Director of Georgian International Energy Corporation, participated in the Conference organized by Galt & Taggart, where the current situation and challenges in the energy sector were discussed.  The conference was attended by the representatives of private and public companies operating in the field of energy as well as international financial institutions. In his speech Levan Vepkhvadze emphasized  the key issues of the sector, such as electricity consumption and generation trends, import dynamics, export markets potential and future prospects. According to him, the ongoing reforms in the sector create new opportunities and the new structure of the market should help to attract new investors, in the achievement of which the government sector should be actively involved. Special emphasis, as he said, should be made on renewable energy sources and on attracting and assisting investors in this regard, particularly as this direction will be of crucial importance in the energy sector in the future.According to Galt & Taggart research, which was presented at the meeting, electricity consumption is growing rapidly and is expected to double by the year 2030.

"Georgian International Energy Corporation" (GIEC) was founded in July, 2005. GIEC operates as a subsidiary of the Georgian Industrial Group. At present, GIG owns 100% of shares in the Company. The main strategic business unit of GIEC includes electricity generation and realization of natural gas. Nowadays, GIEC operates 8 small hydro power plants in Georgia and a thermal power station of strategic importance located in Gardabani District and provides the country with considerable energy reserves. David Bezhuashvili is the founder of GIG.