Electricity Generation and Natural Gas Retail
Georgian International Energy Corporation (GIEC) represents Electricity Generation and Natural Gas Trade arm of the GIG Group. Founded in 2005, GIEC is a prominent supplier of the local electricity market, while also exporting to neighboring countries. Currently GIEC operates 8 small Hydro Power Plants across Georgia, coal-fired Thermal Power Plant and strategically important gas-fired Thermal Power Plant. GIEC’s total installed capacity of 362 MW, is made of 49 MW hydro power plants, 13.2 MW of coal-fired TPP and 300 MW of gas-fired TPP. In 2014 company obtained 15% share of total winter electricity generation and 9% yearly generation of the country.
GIEC operates in both, retail and wholesale natural gas markets, with sales portfolio of 60% wholesale and 40% retail customers. Currently GIEC gas business division operates 31 compressed natural gas stations in Georgia.
In the coal mining business GIG is represented by Saknakhshiri LLC. The company is the nation’s only coal producer and sole owner of economically important Georgian coal mining assets, which are Tkibuli-Shaori and Vale coalfields. Saknakhshiri is engaged in coal extraction, enrichment and selling processes. Under current extraction licenses, at company’s disposal are 407 million tons of coal deposits. The company having successfully managed rehabilitation of the two coal mines: Dzidziguri and Mindeli, started operating new coal-enrichment factory in 2009. Extraction volumes amounted to 350 thousand tons of coal in 2014. The majority of the enriched coal produced is sold under long-term contracts (1 year or more) to the local consumers. In the long-term horizon, company plans to increase its extraction volume up to 1.5 million tons annually, both to meet Georgia’s growing demand and to start export sales.