Georgia will conduct a study of the potential for producing “green hydrogen” and launch a pilot project for the development of renewable and clean energy, according to a letter of intent signed by the country’s Ministry of Economy and the German Development Bank (KfW).
The statement was signed in Tbilisi during government discussions between Georgia and Germany.
The declaration’s major goals are to examine the potential and advantages of green hydrogen in Georgia, to launch the first pilot project that will help the economy, and to encourage investments in clean and renewable energy development.
The proclamation also implies a reduction in reliance on imported gas, a faster pace of renewable energy project development, lower carbon dioxide emissions, and the creation of conditions for energy export.
Green hydrogen is made by electrolyzing water using power generated from renewable sources.
It has a lot of promise in the battle against climate change since it can replace fossil fuels in places where decarbonization is more difficult, such shipping and aviation, as well as some industrial operations.
In addition, “green” hydrogen has a lot of potential as a technology for storing energy throughout the course of the year.
Georgia, according to the ministry, will assist in the transportation of power from one location to another by producing “green” hydrogen.
“This is future technology, and we are delighted that Georgia will be the first country in the area to bring it to fruition with the help of German partners,” Turnava added.
In addition to the statement on renewable energy sources, Georgia and Germany inked a financial cooperation deal in the framework of government discussions, under which Georgia would receive 5.2 million euros.
These money will be distributed to Georgia as a grant for the Biodiversity and Sustainable Local Development initiative.
Every two years, Georgia and Germany have government discussions on development cooperation. Following earlier talks with the government, Germany gave 188.5 million euros to Georgia in 2019, with 53 million euros being a grant.
