Economy Minister, Icelandic President visit joint hydropower plant project

Georgian Economy Minister Levan Davitashvili and Guðni Jóhannesson, the President of Iceland, visited the Akhalkalaki hydropower plant. Photo: Ministry of Economy, 07 Mar 2024 - 19:05, Tbilisi,Georgia

Georgian Economy Minister Levan Davitashvili and Guðni Jóhannesson, the President of Iceland, on Thursday visited the Akhalkalaki hydropower plant, a joint project of Georgian and Icelandic companies that came into operation in 2022 in Georgia’s south.

The officials visited the plant, with an installed capacity of 9.1 megawatt, with Davitashvili saying the facility was a “successful example that other investors can share in order to successfully implement energy projects, especially in renewable energy”.

The Ministry of Economy said $26 million was invested in the project, with about 200 locals employed during the construction.

Davitashvili noted the HPP, built with Icelandic investment, was “interesting” not only because it was an “important” energy project, but also because a “number of social responsibility projects” were implemented within it.

In particular, the investor company set up a pumping station, sports hall, drinking water infrastructure for the settlements near the HPP, participated in the construction of internal roads, and more”, the Minister said.

The Ministry said members of the visiting Icelandic delegation noted they were interested in further increasing the volume of investments, especially considering Georgia’s energy potential.

Akhalkalaki HPP is a cascade type project located on the Paravani River and its right tributary, on the Korkhi River, in the Samtskhe-Javakheti region. The HPP was developed by Caucasus Renewable Energy Holding together with the National Power Company of Iceland, Landsvirkjun and the local company Hydro Energy.