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In the world of the 21st century, the number of people living without electricity in their homes is 1.3 billion. Even among those who have access, many do not own basic assets such as refrigerators, motorized transport, or washing machines. However, it is anticipated that over the next several decades, wide-scale poverty alleviation programs, as well as continued economic growth, will lift the incomes of many of the world’s poor. As incomes increase, families formerly living in poverty will for the first-time purchase energy-using assets.
How will the global demand for energy rise as a consequence? To answer that question, Dr. Alan Fuchs, Senior Economist in the Poverty and Equity Global Practice of the World Bank, made a presentation at ISET on October 5th.
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Georgia is a favorable investment destination, with a simple tax code consisting of six flat taxes and a total tax rate of only 16% on commercial profits that are distributed. Georgia was ranked 16th on the World Banks Ease of Doing Business for 2017 (by contrast, Switzerland is No. 31 and Norway No. 6), and No. 13 on the Bribery Risk Scale of the “Trace”, an International Transparency Rank (Switzerland is No. 16 and Norway No. 5). Georgia has signed an Association Agreement with the EU, is a member of WHO, has ratified the Energy Charter Treaty and signed the New York Convention.
On Sunday July 16 2017, participants of the ISET Summer School of Reformers visited the Shuakhevi Hydro Power Plant developed by Adjaristsqali Georgia LLC (AGL), a company set up specifically for this purpose as a joint venture between India’s Tata Power and Norway's Clean Energy Invest (with shares of 40% each), and IFC (with 20 %). A presentation made by the CEO of AGL, Mr. Prashant Joshi, CEO of AGL; Mr. Josh Gerard, Project Manager of AGL; and Mr. Zviad Diasamidze, the head of Corporate Responsibility of AGL. This was followed by a tour of the Power House, the Dam and the Reservoir, during which the AGL representatives explained the project’s cycle, showed maps of the facilities, and shared AGL’s impressive initiatives for improving the lives of people living in the area of construction.
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