In early 2021 two visionaries, Giorgi Nadareishvili and Levan Abashidze, founded Geo-Energy, a solar energy company inspired by the potential of sustainable energy solutions. Their decision was primarily driven by the increase in commercial electricity tariffs in Georgia, which took effect in December 2020.
All it began by securing an exclusive distribution agreement with Seraphim, a Chinese manufacturer of solar panels, allowing operations in Georgia.
During an interview with the Golden Brand, Director Levan Abashidze reflected on Geo-Energy’s first major success — constructing a solar micro-power station for the Chateau Mere hotel in Georgia’s eastern wine region of Kakheti. Located atop the winery’s roof and in the parking lot, this project symbolizes Geo-Energy’s dedication to quality and sustainability.
“Geo-Energy stands out in the market due to its qualified staff and the high quality of the projects it undertakes. The company’s partner and chief engineer, Vakhtang Jokharidze, boasts extensive experience in this field. His professionalism is demonstrated through the successful execution of major projects for the Tbilisi and Baku metro systems”, Abashidze said.
As the company has grown, its ambitions have expanded beyond micro and commercial installations. Today Geo-Energy is focused on designing and constructing high-capacity generation facilities in collaboration with international partners. With an emphasis on utility-scale solutions, the team continues to drive investment and innovation in Georgia’s renewable energy sector.
Q. What potential did you see in the Georgian market for developing the engineering and construction of solar power plants?
A. The potential and future prospects for renewable energy, particularly solar energy, have been widely discussed in the twenty-first century. The increasing popularity of solar energy in Georgia can be attributed to the country’s geographical advantages and favorable conditions for solar energy utilization. Regulations established by the Georgian National Energy and Water Supply Regulatory Commission have provided significant incentives for the business sector to attract investment in this area. Support from banks, the EBRD, and loan subsidy programs developed by Enterprise Georgia state agency have made it easier for micro and medium-sized businesses to access long-term financing.
Q. How did you establish cooperation with Seraphim, a leading manufacturer in the industry?
A. Seraphim is a global company based in China and is recognized as one of the leading manufacturers of TIER 1 solar panels worldwide. Their products are known for high efficiency, reliability, and multi-year warranties, ensuring stability for various projects. Seraphim is a well-regarded and accountable brand in the global market, and we are proud that they have chosen Geo-Energy as their partner. As the official and exclusive distributor of Seraphim in Georgia, we hold a significant responsibility, which also signifies a strong partnership. Our collaboration with Seraphim was established quickly, as both companies recognized the growing opportunities and market potential. Geo-Energy’s stability and forward-thinking approach paved the way for a solid and mutually beneficial partnership.
Q. Could you please review the services that Geo-Energy offers its customers and identify your target customer group?
A. Geo-Energy provides a complete cycle of services for solar power plants (EPC), which includes design, procurement of high-quality TIER 1 solar panels and inverters, delivery and installation of all necessary materials, monitoring of the solar station for the first 12 months and a one-year warranty on the generated power.
We exclusively use high-quality products; our solar panels come with a 15-year factory warranty, and our inverters are backed by a 5-year warranty, extendable to 10 years if desired.
Geo-Energy is the first company in Georgia to offer a warranty on generated power. This means we take responsibility for the amount of electricity we have calculated and agreed upon with the client. If the microstation does not achieve the guaranteed output within the first year, we commit to increasing the output to ensure the customer receives at least the predicted amount.
Our target customers include enterprises, hotels, medical clinics, greenhouses, cold storage facilities, and other commercial establishments that prioritize energy efficiency and cost reduction.
In addition to our EPC services, we are actively engaged in the construction of solar power plants and the development of our generation business, positioning ourselves as investors in the energy sector.
Q. How many projects have you undertaken during this time, and which are the most outstanding or memorable?
A. Geo-Energy has executed about 100 medium and large projects in Georgia. Our team’s expertise spans solutions for both the commercial and industrial sectors, enabling us to meet the highest expectations of our customers.
In all honesty, every project is significant to us, regardless of its size or location. Each one contributes to our portfolio, reflecting the dedication and effort we invest. However, we would like to highlight one particularly remarkable project: the solar station installed on the mechanized parking lot of the multifunctional complex King David, in Tbilisi. This is the first vertical solar station in Georgia, showcasing our commitment to technological innovation and modern approaches in our work. Innovative solutions like this set Geo-Energy apart in the Georgian market.
Q. Let’s discuss the benefits of Geo-Energy services for businesses. In the company’s Facebook posts, you often say “Make your business eco-friendly.” Can you explain the advantages of partnering with Geo-Energy and how well you understand the business landscape in our country?
A. Our clients enjoy several key advantages, including reduced electricity costs. By utilizing solar power plants, businesses can significantly lower their energy expenses. If a company finances the installation of a solar power system through a loan or leasing, utility bills are replaced with loan payments. This means that instead of paying for electricity, you will be making payments on your loan or lease, ultimately turning that into a long-term investment. Once the loan is fully repaid, energy costs become practically negligible, as the system continues to operate with minimal maintenance costs. Businesses can profit by selling excess electricity back to the distribution network.
Energy independence is another major benefit. Businesses become less reliant on fluctuating market tariffs, as they gain access to a predictable and consistently low tariff over the years. This stability reduces financial risks and increases overall profitability.
Q. Please assess Georgia’s potential in terms of solar energy. What role do you think solar energy will play in Georgia’s future energy landscape, and what challenges does the sector face moving forward?
A. Georgia has significant potential for solar energy development due to its location and high levels of solar radiation, particularly in the southern and eastern regions. Solar energy can reduce reliance on imported power and provide a reliable, eco-friendly source, promoting economic decentralization and energy independence.
Most areas in Georgia receive 1,300 to 1,700 kWh/m² of solar radiation annually, making it ideal for solar energy production. Eastern Georgia enjoys 250 to 280 sunny days each year, increasing solar system efficiency. In comparison, Germany receives only 950 to 1,200 kWh/m² annually, yet has deployed numerous solar stations that generate a substantial portion of its energy from solar sources.
Though still in early development, Georgia’s solar sector faces challenges. The government has introduced the Contract for Difference (CfD) to encourage investment by providing stable income. But permitting processes for small-scale plants (up to 2 MW) need simplification, and access to affordable, long-term financing for individuals and businesses remains limited.
Q. Geo-Energy recently won the Golden Brand Award in the category “Renewable Energy, Solar Power Plants.” What does this recognition mean to you, and how do you believe it will influence the company’s operations going forward?
A. Winning the Golden Brand Award is a significant milestone for us at Geo-Energy. It serves as an official acknowledgment of the dedication and hard work our team has poured into ensuring quality, reliability, and innovation in our projects over the years. This honor reassures us that our efforts are not only technically sound but also appreciated by our customers and industry peers.
We view this award as a heightened responsibility to lead the sector and to develop even more eco-friendly and efficient energy solutions for Georgia. It reinforces our commitment to our mission—providing Solar Energy for Georgia—making it clear that we are dedicated to making a positive impact on the environment and the community.
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