Background

JSC “Georgian Energy Development Fund” was founded 13 December, 2010. 100% of its shares are in state ownership. Company is founded on basis of 08 December 2010 instruction №1564 Georgian government, and 10.12.2010 decree №1-1/1950 of Georgian Economy and Sustainable Development minister. According to agreement from 22 December 2010 between Georgian Economy and Sustainable Development Ministry and Ministry of Energy of Georgia, shares in state ownership was passed to Ministry of Energy of Georgia with management rights.
In September 2012, by decision of minister of Energy and Natural Resources of Georgia, merging of Fund and “Georgian Green Energy Development Company” was carried out, which resulted in liquidation of this company, and JSC “Georgian Energy Development Fund” became its successor.
JSC “Georgian Green Energy Development Company” (GGEDC) is joint-stock company, registered 04 April 2011, and 100% of its shares were in LLC “Georgian Oil and Gas Corporation” ownership, when founded.
Stock was defined as 10 MM lari. Three members were designated in Supervisory Board. Akaki Kvantaliani was appointed as director. According to charter, Company’s field of activity was defined as: designing, construction, rehabilitation and maintenance of HPPs and other plants, working on renewable energy sources, as well as transmission lines, attraction of investments in energy sector, transmission of energy and its sell and purchase.

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