PM, Tata Power CEO discuss investments in Georgian energy sector, cooperation
Garibashvili told Sinha the “large-scale” projects implemented in Georgia’s energy sector ensured the country's energy independence and energy security, helped stimulate the economy and create new jobs. Photo: Government Administration
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“Major investments” made and planned in the Georgian energy sector and prospects for future cooperation were discussed on Thursday in a meeting between Georgian prime minister Irakli Garibashvili and Praveer Sinha, the CEO and managing director of Tata Power Company Limited.
Garibashvili told Sinha the “large-scale” projects implemented in Georgia’s energy sector ensured the country's energy independence and energy security, helped stimulate the economy and create new jobs, the government administration said.
Tata Power, together with the Norwegian company Clean Energy Invest, is the owner of Acharistsqali Georgia, which in turn is the largest investor in the energy sector in the country.
The company oversaw the construction of the 187 MW Shuakhevi hydro power plant cascade, with a total investment of over $550 million.
The government administration said Shuakhevi HPP increased domestic electricity production by approximately 5 percent, strengthened the country's energy security and contributed to its energy independence.
The project is funded by the European Bank for Reconstruction and Development, the Asian Development Bank and the International Finance Corporation, a member of the World Bank Group.
Tata Group is one of the world's leading companies operating on six continents, in 100 countries, and employing 935,000 people. Tata Power is one of the largest companies of the Tata Group.
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From summer 2017 the Shuakhevi Hydro Power Plant (HPP) will be fully operational, helping Georgia tap into its hydropower potential and achieve energy self-sufficiency.
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