Private sector welcomed into hydro power plant project

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.