$200m Hydro Power Plant revolutionises Georgia’s energy future

  • PM Garibashvili: "A power plant of similar strength has not been built in Georgia for the last 35 years."
Agenda.ge, 11 Oct 2014 - 17:36, Tbilisi,Georgia

Georgia’s energy supply and energy independence will significantly improve with the opening of a new Hydro Power Plant (HPP) in the country’s south.

Prime Minister of Georgia Irakli Garibashvili, Energy Minister Kakha Kaladze and Turkey’s Minister of Energy and Natural Resources Taner Yildiz attended the opening of the Paravani HPP today.

"A power plant of similar strength has not been built in Georgia for the last 35 years,” said Garibashvili at the opening ceremony.

"$200 million was invested in the project. The investors’ interest towards the energy resources of Georgia is more increasing and I am sure that every subsequent project will strengthen our country's energy system and will help to increase our energy security.”

The European Bank for Reconstructions and Development (EBRD) was the principal financier of the project, which was touted as the largest renewable project in the country to date.

The EBRD approved a $52 million loan to support financing the power plant. The International Finance Corporation contributed $40.5 million and another $23 million was raised from commercial banks.

The HPP was built by Turkey’s Anadolu Group and was located on the Paravani River in the Samstkhle Javakheti region near the border with Turkey. When fully operational, the plant will have a capacity of about 85 MW.

The project was believed to play a key role in the country’s non-carbon energy mix in the future.

The HPP was connected to Georgia’s power system via a 220kV line to the Akhaltsikhe substation, which was also financed by the EBRD.