Chinese firm finances $200m Tkibuli Thermal Power Plant project

A leading Chinese corporation in the global power industry has agreed to invest $200 million USD to build a Thermal Power Plant (TPP) in Tkibuli, western Georgia.

The deal was confirmed today at the Tbilisi Silk Road Forum, with both sides committing to the strategic project.

A representative from the Georgian International Energy Corporation and Dongfang Electric Corporation of China signed the agreement solidifying the Chinese side’s pledge to fund the large-scale TPP investment project in Tkibuli.

Georgia’s Prime Minister Irakli Garibashvili attended the signing ceremony. He shared this news on his official Twitter account:

Chinese Corporation #DongfangElectric will finance construction of coal-fired thermal power plant in Tkibuli, #GeorgiaChina#TbilisiSilkRoad

— Irakli Garibashvili (@PrimeMinisterGE) October 16, 2015

The 150 MW Tkibuli TPP will be fully financed by Dongfang Electric while the project will be implemented by Georgian Industrial Group.

Dongfang Electric first showed interest in financing the new TPP when PM Garibashvili visited China last month. This new TPP project and other ways of possible cooperation were discussed at a meeting between PM Garibashvili and Dongfang Electric president Wen Shugang.

Dongfang Electric is one of China’s most influential corporations that engage in the manufacturing of power generators and the contracts of power station projects locally and around the world.