Adjaristsqali Georgia LLC

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The Project involves the construction and operation of the 184 MW Shuakhevi hydropower project (the “Project”), consisting of 2 HPP schemes: the 178 MW Shuakhevi HPP and the 6 MW Skhalta HPP by Adjaristsqali Georgia Limited (AGL). It is part of the Adjaristsqali cascade of 4 run-of-river HPPs with a total installed capacity of ~400 MW: 178 MW Shuakhevi HPP, 6 MW Skhalta HPP, 150 MW Koromkheti HPP and 65 MW Khertvisi HPP. The Project will export to Turkey through the 400 kv Akhalskhe-Borcka transmission line (the “AB line”) and sell domestically in Georgia for the 3 winter months (for the first 10 years of operations).Adjaristsqali Georgia LLC was founded by Clean Energy Invest in 2011. The company is a Georgian special purpose company set up to develop the Adjaristsqali Cascade Project. Today, the owners are; Clean Energy Invest of Norway, Tata Power of India and IFC, via a Dutch holding company called Adjaristsqali Netherlands BV. AGL is assisted in its operation by a very competent team of professionals. The Project has an estimated net generation output of 451 GWh on average per year (as per IFC engineer), corresponding to 4.8% of total annual generation in Georgia and is expected to be operational by July 2016.