With the support of TBC, Flamingo Capital Group Georgia has commissioned 13 solar power plants in Vaziani, marking another significant step toward expanding Georgia’s renewable energy capacity.
The project comprises solar facilities with a combined installed capacity of 6.5 MW, located on land owned by the company.
The total investment amounts to GEL 12.2 million, of which nearly GEL 10 million was financed by TBC. Construction began in 2025, while the plants were gradually commissioned throughout 2026. The project was implemented with the support of the Georgia Economic Development Corporation.
The solar power plants are connected to Georgia’s national electricity grid and are leased to corporate clients, enabling businesses to optimize their electricity costs while contributing to the country’s transition to cleaner energy. The project also strengthens Georgia’s energy independence and increases the share of renewable energy in the national power mix.
“We are pleased to have successfully delivered this important project together with Flamingo Capital Group Georgia, contributing to the growth of clean energy generation in Georgia. Supporting renewable energy is one of TBC’s strategic priorities. We are the market leader in energy financing with a 55% market share. Our energy portfolio has reached GEL 1 billion and covers approximately 2,100 MW of installed capacity, accounting for around 45% of Georgia’s total electricity generation. We are currently working on projects totaling 800 MW, the majority of which are focused on renewable energy sources, particularly wind and solar,” said Meri Chachanidze, Director of Corporate Banking Business Management at TBC.
“Electricity demand continues to grow every year, making renewable energy increasingly important. Investing in solar energy is not a new direction for us. The successful implementation of several smaller projects gave us the confidence to move forward with a significantly larger investment. We are delighted to have successfully commissioned 13 solar power plants in Vaziani and are continuing to expand in this sector. We are already developing a new 50 MW solar project near Kutaisi,” said Goderdzi Mamaladze, Director of Flamingo Capital Group Georgia.
