George Chikovani signs a Memorandum of Understanding on Green Hydrogen Project development

16 May, 2023

A Memorandum of Understanding on Green Hydrogen Project development was signed between the Ministry of Economy and Sustainable Development of Georgia, JSC "Georgian Oil and Gas Corporation", Batumi Municipality City Hall and KfW Development Bank.

Intention of the Parties to develop a green hydrogen pilot enterprise as well as its entire value chain (including demand and supply) with joint efforts is expressed in the signed Memorandum.

According to Romeo Mikautadze, the First Deputy Minister of Economy, the government pays particular attention to hydrogen energy development prospects in Georgia.

"The Ministry of Economy works very actively in this direction, jointly with the relevant subagencies and this pilot project is a good example of this active work and mutual cooperation. I think that development of pure hydrogen energy has a very solid ground in our country and this direction will play a significant role in ensuring energy security of Georgia, which is among our priorities", – stated Romeo Mikautadze.

According to the information provided by the First Deputy Minister, at the first stage of the project it is planned to perform a feasibility study and other required studies funded by KfW.