A winter gap to close
Georgia was a net importer of 1.0 TWh in 2025, mostly in winter, when river flows are low.
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Energy investment advisory · Tbilisi, Georgia
Solar power plant investment in Georgia, from first screening to grid connection
We help investors find, assess, build and co-develop utility-scale solar plants in Georgia, with hydropower, wind and grid advice across the Caucasus.
Hydropower: about 80% of Georgia’s electricityNet imports in 2025: 1.0 TWhNet metering: up to 500 kW per plantNet billing for new small plants from 1 January 2027GENEX day-ahead market, 2025: 129.8 GWh tradedCfD auctions: 300 MW offered in 2023, 800 MW in 2024Solar yield in central and eastern Georgia: 1,300–1,350 kWh/kWp
01 — Our view
Georgia runs on its rivers. In winter, when they run low, it imports power. The next decade of Georgian energy will be built by people who add solar, storage and grid where the country needs them most.
Caucasus Energy Partners exists to help that capital arrive safely. We sit between international investors and the Georgian system: regulators, utilities, landowners, lenders and contractors.
Our work is practical: finding projects worth backing, testing them properly, getting them permitted and connected, and closing transactions on terms that hold up.
02 — Project portfolio
Organisations our team has worked with
Energy, infrastructure and industrial companies across Georgia and beyond.
NamakhvaniHPP
03 — Why Georgia, why now
Why invest in renewable energy in Georgia now
A real market, with contracts
Exchange trading on GENEX since July 2024, and 15-year contracts for difference won in competitive auctions.
Strong sun in the east
Central and eastern Georgia yield about 1,300–1,350 kWh per kWp a year, by the EU’s PVGIS model.
New rules, new window
New small plants move from net metering to net billing on 1 January 2027; earlier plants keep net metering until 2033.
04 — The resource
Solar yield in Georgia: where the sun works hardest
Estimated yearly output of one kilowatt of solar panels, by city. The east and the Javakheti plateau lead; the humid Black Sea coast produces up to 18% less.
- 1,300 kWh/kWp and above
- 1,220–1,299 kWh/kWp
- Below 1,220 kWh/kWp
Source: EU PVGIS, fixed optimally tilted system; our calculation.
05 — Where we come in
Buy, build or sell a solar power plant in Georgia
Buy
Acquiring an operating plant
Technical, regulatory and commercial due diligence, so you know what you are buying: yield, equipment, grid rights, licences and contracts.
Due diligence
Build
Developing a new plant
Land, permits, grid capacity, auctions and EPC selection, or co-development with us as your local partner.
Solar development and co-development
Sell or refinance
Exiting or refinancing an asset
Valuation, buyer search, structuring and negotiation for solar, hydropower and grid assets in Georgia.
Transaction support06 — Services
Energy investment advisory services in Georgia
Origination and market entry
We find projects and partners worth your time: screening pipelines, introducing developers and landowners, and explaining how Georgia’s market, regulators and utilities work before you commit capital.
- Project screening and shortlists
- Market entry briefings
- Partner and landowner introductions
- Site visits across Georgia
Technical due diligence
An independent view of the plant or project: energy yield, equipment, design, construction quality, grid connection and the EPC and O&M contracts behind them.
- Yield and loss assessment
- Equipment and design review
- Site inspections
- EPC and O&M contract review
Permits, licensing and grid
The Georgian approvals in the right order: land, environmental permits, GNERC licensing, grid capacity and connection agreements with GSE, Telasi or Energo-Pro.
- Permit roadmap and timeline
- GNERC licensing
- Grid capacity and connection
- Net metering and PPAs
Environmental and social
Environmental impact, community and land issues assessed against Georgian law and lender standards, so financing is not held up late in the process.
- EIA screening and scoping
- Lender standards gap analysis
- Community and land review
- Action plans
Transaction support
From valuation to signing: structuring, financial review, negotiation support and coordination of lawyers, lenders and technical advisers.
- Valuation and modelling review
- Deal structuring
- Negotiation support
- Closing coordination
Post-deal asset management
After closing, we help keep the asset on track: operations oversight, regulatory reporting, contracts and relationships with utilities and authorities.
- Operations oversight
- Regulatory reporting
- Contract management
- Local representation
07 — Sectors
Solar, hydropower, wind and grid: the sectors we cover
Utility-scale solar is still small in Georgia, but it is where most new projects are being built. Projects of 5–50 MW are reaching construction and bank financing.
- Grid cap for new solar (GSE)
- 0.5 GW
- Net-metered plants, end-2025
- 305 MW
- Typical utility project
- 5–50 MW
Hydropower is the backbone of Georgia’s power system. New plants now earn through the market and contracts for difference rather than guaranteed purchase agreements.
- Share of generation
- ≈80%
- Installed hydro capacity
- 3,489 MW
- Enguri, the largest plant
- 1,300 MW
Wind is at an early stage, with the first large wind farm, Ruisi, under construction and new capacity able to compete for 15-year contracts for difference.
- Operating wind, end-2025
- 20.7 MW
- Ruisi wind farm, under construction
- 206 MW
- CfD term
- 15 years
Grid capacity decides which projects get built. Interconnection with neighbours and storage are the next frontier for Georgia’s system.
- Black Sea cable, planned
- 1,300 MW
- Transit to Turkey, 2025
- 0.7 TWh
- Grid cap for new solar
- 0.5 GW
08 — How we work
How we work: from first call to grid connection
- 1
Introduction
Your objectives, risk appetite and timeline, in confidence.
- 2
Screening
A shortlist of projects or a first view on yours, with the red flags.
- 3
Due diligence or development
Technical, regulatory and E&S work, or permits and grid for a new plant.
- 4
Transaction
Valuation, structuring and negotiation through to signing and closing.
- 5
Operation
Connection, commissioning support and reporting once the plant runs.
09 — Why work with us
Local enough to get things done, independent enough to say no
- Offices
- 3
- Languages
- 3
- Services
- 6
- Cities modelled
- 13
On the ground in Tbilisi
We deal directly with GNERC, GSE, Telasi and Energo-Pro, not from a slide deck abroad.
Independent advice
We tell you when a project should not go ahead, and why.
English, Georgian, Russian
Documents, negotiations and site visits in the language each party works in.
Data-led
We publish our own analysis of exchange prices, tariffs and solar yields, with sources.
Confidential by default
Mandates, counterparties and numbers stay with the people who need them.
Tbilisi, Dubai, London
Close to the assets, and close to the capital that funds them.
10 — Who we work with
Who we advise: funds, power producers, lenders and investors
01
Infrastructure and energy funds
Entering Georgia or adding to a regional portfolio.
02
Independent power producers
Looking for sites, partners and grid capacity.
03
Family offices and private investors
Buying operating plants with predictable cash flow.
04
Lenders and development banks
Needing independent local due diligence.
05
Corporates and energy users
Securing their own clean power in Georgia.
11 — The system in numbers
Georgia’s electricity market in numbers (2025)
4,675 MWinstalled capacity, all sources
13.8 TWhgenerated in 2025, about 11 TWh from hydropower
1.6 TWhimported in 2025, 62% of it from Russia
129.8 GWhtraded on the GENEX day-ahead market in 2025
Sources: Galt & Taggart, GNERC, GENEX; our analysis.
12 — Free tool
Solar panel calculator: how much solar do you need?
Our calculator sizes a system and estimates yearly output, cost and payback for homes and businesses in 13 Georgian cities, using PVGIS yields and current GNERC tariffs.
Open the full calculator13 — Research
Guides to solar and energy investment in Georgia
14 — Questions
Solar and energy investment in Georgia: your questions
Who do you work with?
Investors, developers, lenders and energy companies looking at solar, hydropower, wind or grid assets in Georgia and the wider Caucasus.
Can you co-develop a project with us?
Yes. Alongside advisory work, we can act as your local development partner on solar projects.
Do you help with grid connection?
Yes: capacity checks, applications and follow-up with GSE, Telasi and Energo-Pro, and the licensing that goes with them.
How much does a solar power plant cost in Georgia?
In 2026 a complete rooftop system costs about $500–650 per kW installed for a home and $350–450 per kW for a business. Utility-scale plants cost less per kW in equipment, but land, grid connection and permits add to the budget; we model these site by site.
How much electricity does 1 kW of solar panels produce in Georgia?
About 1,100–1,350 kWh a year, depending on location: around 1,300–1,350 kWh in central and eastern Georgia and on the Javakheti plateau, and up to 18% less on the Black Sea coast (EU PVGIS).
What kinds of projects do you look at?
Utility-scale solar plants and portfolios, as well as hydropower, wind and grid assets. Tell us about yours and we will tell you quickly whether we can help.
Is our first conversation confidential?
Yes. Everything you share with us is treated in confidence, and we can sign a non-disclosure agreement before you send project details.
Which languages do you work in?
English, Georgian and Russian, for documents, meetings and negotiations.
Looking at a solar or energy asset in Georgia?
Tell us what you are considering. A partner will come back to you for a confidential first conversation.