The Georgian government has decided to privatize state property held by Energo-Pro Georgia. According to the decree, the assets will be transferred to the ownership of the joint-stock company of the same name. The authorities estimated the total transaction amount at 7,711,671 GEL, which exceeds $2.8 million.
The privatized package includes plots of non-agricultural land in the Kakheti region, power lines, transformers, and other energy infrastructure facilities. The document stipulates that the company must pay for the transfer of property within one month after signing the contract, and also transfer additional compensation to the Agency for Mineral Resources in the amount of 217.8 GEL.
The decision on privatization was made against the backdrop of the discussed increase in electricity tariffs. Previously, Prime Minister Irakli Kobakhidze stated that the authorities intend to maintain current prices as much as possible by adjusting individual practices. Energo-Pro Georgia is part of the international ENERGO PRO group and serves more than 1.2 million customers in the country, managing distribution networks and generation facilities.
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