The government of Georgia has decided to write off fines accumulated in the energy sector to the state. This concerns an amount of about 1 billion lari - according to the Minister of Economy, Mariam Kvrivishvili, this is a historic step aimed at supporting one of the country's key industries and strengthening energy security.
As the head of the Ministry of Economy explained, before making the decision, all projects and memorandums for which fines had previously been accrued were studied in detail. The authorities came to a unified approach to ensure transparency and equal conditions for market participants. Energy is designated as strategically important for the sustainable development of the economy and the independence of Georgia.
At the same time, the write-off of fines will not be unconditional. For each project - solar, wind, or hydro - new implementation deadlines will be determined, taking into account the stage of work. Investors will be able to propose their own schedules, but the state will actively monitor their compliance. In case of failure to meet deadlines without objective reasons, the forgiven fines will be restored in full, with additional penalties accrued.