Construction of the major private HPP in Georgia is complete
Georgia’s largest hydropower project for the last 50 years was completed. The opening ceremony of Shuakhevi HPP took place on 24 June. Installed capacity of Shuakhevi HPP is 187 MW, annual power generation – 450m kWh. The project included the construction of 2 dams and reservoirs. The construction was implemented by Adjaristsqali Georgia Joint Venture, established by Indian Tata Power and Norwegian Clean Energy Invest.
During the opening ceremony, George Kvirikashvili, Prime-Minister of Georgia, highlighted that the hydropower station was the first in Georgia having the certificate issued by United Nations Framework Convention on Climate Change. Mr. Kvirikashvili also reiterated project social influence: “It is very important that 300 people will be employed. They will not leave their native land”.
Shuakhevi HPP project is the first investment project in Georgia that was implemented with the use of international funds. IFC (International Finance Corporation) raised $250m, including $90m invested by European Bank for Reconstruction and Development, $90m invested by Asian Development Bank and remaining $70m – IFC fund.