1,3 million EUR to be allocated for development of green hydrogen consumption
Within the framework of the German-Georgian Intergovernmental Negotiations Week, an agreement envisaging allocation of 1,3 million EUR for development of green hydrogen consumption and preparatory measures related to it was signed between George Chikovani, General Director of GOGC and Bodo Schmuelling, Director of Energy Sector at KfW. The Agreement was signed in Berlin today, on June 19. Romeo Mikautadze, the First Deputy Minister of Economy and Sustainable Development of Georgia attended the ceremony of signing.
According to the draft agreement, the funding has entrepreneurial goals. In particular, the received funds are intended for preparatory works - feasibility study, design, environmental impact assessment reports and implementation of the respective legislative initiatives.
The German federal government plans to facilitate development of the green hydrogen market in Georgia through KfW and in cooperation with the Ministry of Economy and Sustainable Development of Georgia. For this purpose, a Memorandum was recently signed between the Ministry of Economy and Sustainable Development, GOGC, Batumi Municipality City Hall and KfW in connection with development of the green hydrogen pilot project. The Memorandum confirms an intention of the parties to develop the green hydrogen pilot enterprise as well as its full value chain (including demand and supply) by joint efforts.
The above agreement is the initial stage of the above project and the funds (1.3 million EUR) allocated on the basis of this agreement will be used for taking the first steps for facilitation of green hydrogen development in Georgia.
At the first stage, one of the cleanest energy products – hydrogen – will be used for Batumi municipal transport. Preparatory works will take about a year.