New hydro power plant to increase export

Vice-Premier and Minister of Energy Kakha Kaladze opened the new Backhvi 3 hydro power plant (HPP) in village Mtispiri in the Ozurgeti district.

During the opening ceremony, the Minister was accompanied by the chairman of the board of the directors of Silk Road Group, Giorgi Ramishvili and founder of the Custo Group, Erkin Tatishev.

According to the Ministry of Energy, the installed capacity of the HPP is 9.8 megawatts and total annual output equals 38 million kilowatts hour.

"During the winter, the HPPs main output will be used for the domestic market and the remaining amount will be exported to Turkey, in the official press release of the Ministry.

Bakhvi 3 HPP employs 25 locals who provide its management and operation.

The Bakhvi 3 HPP project belongs to the companies Kusto Group and Silk Road Group and was implemented by LTD Bakhvi Hydro Power. The building process of the HPP started in December 2011 with the investments jointly attracted by Kusto and Silk Road Groups. The total amount of investment equals to USD 13.5 million. Financier of the Bakhvi 3 was the Bank of Georgia.