ADB Approves Loan To Boost Georgia's Energy Security

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 17. The Asian Development Bank (ADB) has approved a $104 million loan to strengthen Georgia's energy security and support the country's transition to clean energy, Trend reports via the Bank.

The funding is part of ADB's Energy Storage and Green Hydrogen Development Project and will enable the construction of Georgia's first-ever energy storage facility. The initiative also includes exploratory support for green hydrogen development.

As part of the project, a 200MW/200MWh Battery Energy Storage System (BESS) will be installed at the Ksani Substation near Tbilisi. The facility is expected to improve the integration of renewable energy into Georgia's electricity grid, reduce dependence on neighboring countries for grid stability, and promote increased private sector participation in the energy sector.

In addition to the loan, ADB has approved a $400,000 grant-based Technical Assistance (TA) to help the Georgian government assess the potential for green hydrogen and outline the regulatory and technical requirements needed to encourage private investment in the sector.

ADB has been supporting Georgia since 2007 and is among its largest multilateral development partners. To date, the bank has provided the country with $5 billion in loans, grants, and technical assistance.

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