EBRD provides €28 million to rehabilitate Georgia’s Enguri HPP
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The European Bank for Reconstruction and Development (EBRD) is offering €28 million to help Georgia rehabilitate Enguri Hydro Power Plant (HPP).
The Enguri HPP is a hydroelectric dam on the Enguri River in western Georgia. It is believed to be the world's second highest concrete arch dam, reaching a height of 271.5 metres. The National Agency for Protection of Cultural Heritage granted the Enguri arched dam the national status of cultural heritage for the purpose of development of the country’s industrial capacity.
While the Enguri dam is under rehabilitation to make it a tourist zone, which will include a scientific center, open concert space, components for extreme sports, a glass elevator and other facilities, the new EBRD loan will also help to improve the climatic conditions on the HPP territory.
The agreement was signed within the Enguri HPP Climate Resilience Upgrade project.
The project aims to make improvements to the Enguri HPP to alleviate critical power shortages in Georgia at a low cost and to enhance the environmental benefits of the Enguri HPP facility.
The project generally aims to:
- Increase the availability of non-polluting renewable energy in the country; and
- Improve operational safety of the Enguri power facility.
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Georgia is leading the second wave of countries in eastern and central Europe, with its progressive reforms, believes the Vice President of the European Bank for Reconstruction and Development (EBRD), Alain Pilloux.
The European Bank for Reconstruction and Development (EBRD) has revised its 2017 economic growth forecast for Georgia and said that the country’s economy in 2017 as well as in 2018 will experience a faster growth than previously expected.
“Georgia: Leader of Europe’s second wave”
Georgia is heading in the right direction thanks to its growing economy and increasing political stability believes the European Bank for Reconstruction and Development (EBRD) Director for the Caucasus, Moldova and Belarus, Bruno Balvanera.
Georgia’s positions in all international rankings have advanced in the past five years and is a front-runner among the countries we work with, says President of the European Bank for Reconstruction and Development (EBRD) Sir Suma Chakrabarti.
The Energy Community Secretariat is contributing to the widening of the gas market, attract investments and provide for the increased security of gas supply in Georgia. For this reason, the Energy Community Secretariat launched a technical assistance project in Georgia’s capital city of Tbilisi this week under the EU4Energy Governance Project.
The Kingdom of Norway is supporting the development of renewable energy sources in Georgia by approving $4 million for the country.
Georgia is striving to fortify energy security in the country and improve its economy by building the largest hydro power plant in the recent history of independent Georgia - the Nenskra Hydro-Electric Power Plant (HPP).
The United States Agency for International Development (USAID) is launching a new three-year energy program in Georgia to support the development of energy market in the country. The $7.5 million energy program aims to contribute to the development of commercial electricity opportunities in Georgia.
“Investors are really interested in Georgia”
The European Bank for Reconstruction and Development (EBRD) Director for the Caucasus, Moldova and Belarus, Bruno Balvanera, believes that investors are "really interested” in Georgia.
The EBRD and the EU are extending their support to small and medium-sized enterprises (SMEs) in Georgia, Moldova and Ukraine to the total of almost €1.1 billion in credit lines and trade finance and €58.3 million in EU grants.
Georgia’s capital of Tbilisi is hosting the 2018 European Bank for Reconstruction and Development (EBRD) Trade Finance Forum and 200 participants from 40 countries.
55 people, including 38 police officers and 17 civilians, were injured during a clash in the country’s Muslim-populated Pankisi Gorge earlier today, where locals opposed the construction of a small hydropower plant.
The European Bank for Reconstruction and Development (EBRD) is allocating €10 million for the reconstruction of Georgia’s Enguri Hydro Power Plant (HPP).
One of the largest Japanese energy companies, TEPCO Renewable Power (TEPCO RP), has acquired 31.4% of the shares of Georgian hydropower company Dariali Energy. This is TEPCO RP's second investment in a hydropower project overseas.