Private sector welcomed into hydro power plant project
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A global development institution is teaming up with a Georgian state-owned shareholding company to provide support in a Hydro Power Plant earmarked for the upper Svaneti region.
International Finance Corporation (IFC), which is a member of the World Bank Group, will provide the Partnership Fund (PF) with assistance in creating the Nenskra Hydro Power Plant (HPP) project.
Project insiders believe the HPP will be a viable public-private partnership project. Today IFC and PF representatives signed an agreement to introduce private sector participation in the development of the 210 megawatt power station.
Nenskra HPP will be constructed on the Nenskra river in Upper Svaneti, a mountain region of Georgia.
The HPP is expected to annually produce 1.3 billion kilowatts of electricity per hour.The project is estimated to cost $570 million USD and is planned to be completed within five years.
A new Hydro Power Plant (HPP) in Chkhorotsku province is extremely important and will help Georgia gain more energy independence, says the country’s Prime Minister.
The European Bank for Reconstruction and Development (EBRD) is teaming up with Georgia's Partnership Fund (PF) to provide significant financial support to the Nenskra Hydro Power Plant (HPP) project, earmarked for the upper Svaneti region.
Italian industrial group Salini Impregilo is being offered the chance to handle a hydroelectric project in Georgia and contribute in developing the energy sector in the country.