Georgia, Eastern Europe: Market opportunities in the Energy Sector

Learn about the market opportunities while getting an overview of the financing options and obtaining insights from interesting company cases in Danfoss, RACELL and Vestas

Foto: Getty Images

The Danish Ambassador accredited to Georgia, H.E. Ole Egberg Mikkelsen, the Georgian Ambassador to Denmark, H.E. Gigi Gigiadze, and local experts from the Georgian Ministry of Economy and Sustainable Development will tell more about what opportunities Danish companies have on the Georgian market, where there is a demand for solutions within several energy sub-sectors such as; energy efficiency in buildings, the water sector from water supply to waste water, and renewable energy.

Moreover, EKF, IFU, and NEFCO will present the financing options you have when chasing projects in the country. Eventually, Danfoss, RACELL and Vestas will share their lessons learned from doing business in Georgia.

The webinar can be watched live or on demand after the webinar. We will also share the presentation slides with you after the webinar.

Energy Export Delegation to Georgia in May 2021

After this webinar, you are all set to start your next export adventure. We are already in the process of setting up the right platform with an Energy Export Delegation in May 2021 paving the way for Danish companies to leverage upon the opportunities presented in this webinar. Click here to read more.

The delegation is organized by the Confederation of Danish Industry and the Danish Trade Council in Ukraine covering Georgia.


Welcome and moderation
Jens Holst Nielsen, Director of Global Market Development, the Confederation of Danish Industry

Introduction to the Georgian Market
- H.E. Ole Egberg Mikkelsen, the Danish Ambassador accredited to Georgia
- H.E. Gigi Gigiadze, the Georgian Ambassador to the Kingdom of Denmark

Insights into the Georgian Energy Market 
- Mr. Tornike Kazarashvili, Head of the Energy Policy and Investment Projects Department, the Ministry of Economy and Sustainable Development of Georgia
- Ms. Margalita Arabidze, Deputy Head of the Energy Reform and International Relations Department, the Ministry of Economy and Sustainable Development of Georgia
- Mr. Nikoloz Sumbadze, Deputy Director of Electricity Department, the Georgian National Energy and Water Supply Regulatory Commission

Financing options when doing business in Georgia
- Jørgen Østergård Bollesen, Financial Counsellor, EKF
- Olexiy Parkhomchuk, Investment Director & Representative Ukraine, IFU
- Bo Eske Nyhus, Investement Director, NEFCO regarding IFI financed Municipal Sector Projects - Markets Opportunities

Lessons learned on doing business in Georgia
- Andriy Berestyan, CEO, Danfoss Ukraine
- Yakov Safir, CEO, RACELL
- Igor Nus, Sales Director, Vestas CIS

Open dialogue regarding export delegation to Georgia in 2021


The Financial Institutions 

EKF (Denmark’s Export Credit Agency) can help you finance your current operations, raise financing for your customer and secure specific export orders. From the initial contact with a customer abroad until the conclusion of the transaction and receipt of payment.

Jørgen Østergård Bollesen

Financial Counsellor


In order to create sustainable societies in the developing world, private capital and investments are vital. This is the reason for IFU to offer advice and risk capital to private investors and companies wishing to do business in developing countries.

Olexiy Parkhomchuk

Investment Director & Representative Ukraine


NEFCO’s Investment Fund is a for-profit revolving fund operating on market terms. The fund finances sustainable green growth projects. All earnings are retained for new investments. By the end of 2019, the size of NEFCO’s Investment Fund was 166 mEUR. NEFCO can normally finance up to EUR 5 million for each project.

Bo Eske Nyhus

Investment Director

Case Companies 


Danfoss provides a wide range of engineering solutions within the energy sector. Danfoss has several business segments such as Danfoss Cooling, Danfoss Drives, Danfoss Heating and Danfoss Power Solutions. Danfoss has been present in Georgia since 2019, where the company is primarily focused on Energy efficiency within the buildings and industrial sector.

Andriy Berestyan

CEO, Danfoss Ukraine


RACELL produces custom solar panels specifically designed for architectural projects. RACELL was founded in 1981 by three founders from the three acknowledged universities: Stanford University (USA), MIT (USA) and the Technical University of Denmark (DK). RACELL has been doing projects in Denmark as well international markets from Greece to South Africa.

Yakov Safir



Vestas delivers sustainable energy solutions. The primary business area for Vestas is to design, manufacture, install, and service wind turbines across the globe. Vestas has installed +122 GW of wind turbines in 82 countries.

Igor Nus

Sales Director, Vestas CIS