US company Cerberus Frontier will construct a small hydropower plant, Bakhvi 1, in the Guria region of Georgia, announced Georgian Economy Minister Natia Turnava today.
This will be the US company's fifth project in Georgia", said Turnava, who added that today's government meeting discussed and approved the construction of Bakhvi 1 hydropower plant in Guria.
The project details of Bakhvi 1 published by the Ministry of Energy of Georgia reads that the installed capacity of Bakhvi 1 is planned to be 12 MW, while the average annual generation should be 78.2 GW/h. Construction cost is $27 million and the construction period is three years.
Turnava said that the interest of the US company in investing in Georgia proves that the investment environment is attractive for foreign investors.
Turnava promises that "we will do our best to move the project from the studying phase to the actual construction phase".