A Memorandum of Understanding was signed between the Ministry of Economy and Sustainable Development of Georgia and the State Agency on Energy Efficiency and Energy Saving of Ukraine. The parties agreed to cooperate in the field of energy efficiency, renewable energy and alternative types of fuel within their competence.
The partnership should become a new stage in developing foreign economic relations and forming an effective development policy for a “clean”, energy-efficient, low-carbon economy in both countries. Within the framework of the Memorandum, the parties also plan to exchange experiences, best practices, and mechanisms for implementing projects in these areas.
Meanwhile, both countries set ambitious goals to foster the development of renewable energy. By 2030, it should be possible to integrate 1 332 MW of wind energy and 520 MW of solar in Georgia. Ukraine has set a goal of sourcing 25% of its total energy mix from renewables by 2035 — up from about 5% in 2019.