November 14, 2013 – JSC Alliance Energy Trading (AET) signed trading agreement with Europe’s largest renewable energy company, Statkraft on the delivery and purchase of electrical power.

According to the contract, Alliance Energy Trading will provide the Norwegian company   with power within the months of high water precipitation. Alliance Energy Trading will facilitate export of electricity produced by small and medium hydro-power plants in Georgia to Turkish power market and potentially to the markets of other European countries.

“Energy is one of the strategic sectors for the country. Georgia has a vast potential of hydro resources and electricity export will be an important step towards future development of this sector. The company Statkraft is one of the leading European energy companies and trades electricity globally. We are honored that Statkraft decided to partner with us. Together with them, we are planning to increase the export of electricity generated by the small and medium hydro-power plants in the country to Europe”, - says Mr. Irakli Tkebuchava, CEO of Alliance Energy Trading.

JSC Alliance Energy Trading is a subsidiary of JSC Alliance Energy. The main focus of the company is electricity trade and import & export operations. Alliance Energy Trading will trade the electricity generated by Alliance Energy as well as other private HPPs. The aim of the company is to facilitate electricity trade between Georgia and neighboring countries.

Statkraft is Europe’s largest generator of renewable energy and is the leading power company in Norway. The company owns, produces and develops hydropower, wind power, gas power and district heating. Statkraft is a major player in European power trading and has 3600 employees in more than 20 countries.