Subsidiary Companies
JSC Georgian State Electrosystem is the owner of 99.4% of the shares of Karchal Energy Electric Topthan Tijaret, a joint-stock company for trading energy and electricity as wholesale. The company carries out electricity trading activities in Turkey and holds an electricity trading license issued under Turkish law.
Georgian State Electrosystem is also the owner of 25% of JSC Georgian Energy Exchange (S/N 404589432). The company carries out electricity market operation activities and holds day-ahead and daily market operator's license issued by the Georgian National Energy and Water Supply Regulatory Commission.
Georgian State Electrosystem is also a 25% shareholder of GECO POWER COMPANY – GREEN ENERGY CORRIDOR POWER COMPANY LLC registered in Bucharest, Romania. The purpose of establishing the company is to implement the Green Energy Corridor Project, which includes the development of a 1,115 km high-voltage submarine transmission cable project in the Black Sea.
