+44 207 394 30 90 (London)

EIB approves loan to fund hydropower project in Georgia

Главная » News » EIB approves loan to fund hydropower project in…

With its approval of a US$150 million loan, European Investment Bank (EIB) joins the European Bank for Reconstruction and Development (EBRD) and Asia Infrastructure Investment Bank (AIIB) in financing the $1.1 billion 280-MW Nenskra hydropower project in Georgia.

Earlier this month, HydroWorld.com reported EBRD committed a total of $230 million to the project and to date, AIIB has provided $8.7 million.

JSC Nenskra Hydro, the plant’s development company, says it is building the facility in the Nenskra and Nakra river valleys in Mestia municipality of the Svaneti region, in Northwest Georgia. The scheme includes: a 130-m-high dam that will impound Nenskra River creating Nenskra Reservoir, which will have a live storage of about 176 million m³.

The Nenskra project is one of several projects being built or developed in Georgia.

The Mestiachala 1 and 2 hydropower projects are being built on Mestiachala River in Georgia’s Samegrelo Zemo-Svaneti region.

The plants are being developed through the joint venture, Svaneti Hydro, of which the Georgia Renewable Energy Co. holds 65% of shares and Austria’s RP Global Investment holds the remaining 35%.

Georgia’s Ministry of Energy has previously said the 23.7-MW Mestiachala 1 will cost about $34.2 million and the 27-MW Mestiachala 2 will cost around $39.2 million.

Another major project began in January 2017 with Georgia awarding Clean Energy Group Georgia a contract to construct and operate the 433-MW Namakhvani hydroelectric cascade, estimated to cost about $730 million.

The two-plant cascade will include the 333-MW Namakhvani and 100-Tvishi facilities in the Tskaltubo and Tsageri municipalities. The cascade powerhouses will be located on Rioni River between the existing 112.5-MW Lajanuri and 66.5-MW Gumati hydro plants.

State-owned Georgian Energy Development Fund announced a tender offer for the Namakhvani complex in December 2015.

Clean Energy Group said construction on both plants is scheduled to begin this year with an expected completion date sometime in 2021.

Source: http://www.hydroworld.com

MORE

Renewable Energy Could Be The Next Big Thing For Azerbaijan

Despite ranking in the top 20 among nations with crude oil proved reserves and the top 25 when it comes to natural gas, Azerbaijan is moving ahead with developing renewable sources of energy. On Monday, the German-Azerbaijani Chamber of Commerce based in Baku released its 2019 market analysis, which describes ways the South Caucasus’ largest…


China to provide Uzbekistan with $ 25 million loan for HPPs construction

Uzbekistan plans to build two new small HPPs on the Dargom Canal in the Samarkand region at the expense of China’s soft loans, Trend reports with reference to a government decree on April 8. The aim of the project is to consistently increase the use of renewable energy sources, increase the balance of energy resources…


Georgia Capital on track to launch second phase of Mestiachala hydro power plant

Georgia Capital said its renewable energy business had commissioned the first phase of Mestiachala hydro power plant, while also remaining on track to launch the second phase in June this year. The 50MW cascade of Mestiachala plant, located in Svaneti region, commenced in May 2017. The actual cost per megawatt amounts to $1.2m, with approximately…