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Vakhtang Kvekvetsia has over 20 years of experience in electricity and gas sectors worldwide. He leads projects for corporate clients, governments, and international financial institutions, guiding them on energy sector restructuring, integration of renewable energy, cost benefit analysis of government policies and investment projects in energy and water sectors, market due diligence, valuation and risk analysis of energy assets, and merger cases.

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Mr. Kvekvetsia is a seasoned expert witness with testifying experience in arbitration. He has developed a range of market simulation and valuation models, helping clients in estimating damages in the context of international arbitration and litigation, valuing assets and contracts for due diligence, determining cost reflective tariffs, and managing risk.

Mr. Kvekvetsia's experience spans Europe, former Soviet Union countries, the Middle East, and Africa. Prior to joining NERA, he worked as a Financial Analyst in the World Bank country office in Georgia, analysing energy utilities, energy sector tariffs, and cost recovery levels in Georgia, Moldova, and Ukraine. His work has provided him with first-hand experience responding to the challenges faced by policy makers in transition economies.


  • MSc in economics and finance, University of Warwick
  • Diploma in management of banking, with Distinction, Tbilisi Business Academy, Georgia
  • Diploma in physics, with Distinction, Tbilisi State University, Georgia


  • Georgian
  • Russian