Georgia’s wind-energy pipeline includes 34 projects, but most remain at an early stage of development, according to research published by TBC Capital.

The government plans to add approximately 1,300 MW of wind capacity to the national electricity system by 2031. However, only five of the 34 identified projects were classified as being in construction, while 29 remained in early-stage development.

Operating capacity remains below 40 MW

Georgia currently has two operating utility-scale wind farms.

The 20.7 MW Qartli Wind Farm has operated since 2017, while the 18.75 MW Zemo Wind plant entered operation in 2026. Together, they provide approximately 39.45 MW of installed capacity.

The difference between operating capacity and the 1,300 MW target illustrates the scale of development required over the next five years.

The largest project currently under construction is the 206 MW Ruisi wind farm. The project uses 33 Goldwind turbines and is expected to become Georgia’s largest wind power plant once completed.

Other planned projects include the Gogni wind farm, new developments in Kaspi and Terjola, and several projects still completing feasibility and environmental studies.

TBC Capital models attractive project economics

TBC Capital also examined the potential economics of a representative 50 MW Georgian wind project.

Its model assumed a 39% plant factor, an average electricity tariff of 5.7 US cents per kWh, financing consisting of 70% debt and 30% equity, and a loan period of up to 15 years.

Under those assumptions, the model produced a project internal rate of return of 19.5% and an estimated equity payback period of 5.5 years. These figures are modelled results rather than guaranteed returns and would vary according to wind conditions, financing costs, construction expenses and electricity prices.

Grid flexibility will become increasingly important

Building wind farms is only one part of the challenge.

Georgia will also need sufficient transmission capacity, balancing resources and storage to absorb much larger volumes of variable generation.

The country’s draft National Energy and Climate Plan warns that integrating more than approximately 750 MW of wind without additional balancing capacity could create technical difficulties. Wind output in Georgia often reaches higher levels at night, when electricity demand is lower.

The document identifies energy storage or additional regulating generation as possible ways to manage excess output and reduce the risk of wind curtailment.

Georgia’s wind pipeline is therefore substantial, but the pace of actual delivery will depend on more than project announcements. Environmental approvals, financing, grid connections, transmission investment and system flexibility will determine how much of the planned capacity reaches operation by 2031.

This article is based on TBC Capital’s May 2026 report, Georgian government planning information and ESCO generation records.