Shuakhevi 187MW Hydropower plant

Active

Prospective

International Finance Corporation (IFC), the Asian Development Bank (ADB), and the European Bank for Reconstruction and Development (EBRD) are helping Georgia unlock its hydropower potential and achieve energy self-sufficiency by investing in the construction and operation of the Shuakhevi hydropower plant. The opening ceremony on September 16 marked the beginning of construction of the hydro power project on the Adjaristsqali River. The project is the first hydropower project in Georgia certified by the United Nations Framework Convention on Climate Change for carbon emission reductions. The completed HPP is expected to produce 450 gigawatt (GW) hours of power annually and reduce greenhouse gas emissions by more than 200,000 tonnes per year. The project will start by developing the 187-megawatt Shuakhevi hydropower scheme, consisting of the Shuakhevi and Skhalta hydropower plants located in the Adjara region, in southwest Georgia. The $250 million debt financing arranged by IFC represents the largest-ever private hydropower investment in Georgia, consisting of two $90 million long-term senior loans one from each - ADB and EBRD. IFC’s total investment in this project is $104 million, which includes a $70 million loan and a $34 million equity investment. The last phase of construction will be financed by Adjaristsqali Georgia – a joint venture between India’s Tata Power and Norway's Clean Energy Invest (40 percent each), and the remaining 20 percent by the International Finance Corporation (IFC). http://ifcext.ifc.org/IFCExt/pressroom/IFCPressRoom.nsf/0/D95421C2DF3F67D285257E0D004D3466?OpenDocument https://ijglobal.com/articles/95644/financial-close-for-georgias-shuakhevi-hydropower-plant

Energy

Georgia

World Bank Group

Project

Hydro, Power Generation (CCGT), Commercial, Government