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EU Allocates €9.9 mln for Extension of Georgian Transmission Network

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The European Union, through its Neighborhood Investment Facility (NIF), provided a €9.9 million (GEL 28 million) grant to support the program on “Extension of the Georgian Transmission Network”, co-financed by the German government-owned development bank KfW.

Deputy Minister of Economy of Georgia, Giorgi Chikovani; General Director of Georgian State Electro system (GSE), Sulkhan Zumburidze; and KfW representative, Hans Rieck, signed a Financing and Project Implementing Agreement on the ‘Extension of the Georgian Transmission Network.’

The aim of the program is to: provide grid infrastructure for promotion of net integration of hydropower plants (HPPs), increase transmission capacities, including cross-border trade, and improve the security of energy supply of Georgia.

The program consists of the following components: the Tskaltubo-Akhaltsikhe-Tortum Connection, reinforcement of transmission infrastructure in Guria, construction of the North Ring, and reinforcement of Kakheti transmission infrastructure.

The EU NIF contribution of €9.9 million consists of a €5.9 million investment component and €4 million technical assistance component.

This contribution comes in conjunction with the €125 million loan already provided by KfW Development Bank. The program is also co-financed by the European Bank for Reconstruction and Development (EBRD).

The total cost of the project is €225.36 million.

KfW´s activities in Georgia started in 1993. Since then, more than €750 million has been invested in different sectors, among them the energy, financial, municipal infrastructure, environment and health sectors.

The Economy Ministry reports that more than 50% of the whole investment (€400 million) has been attributed to the energy sector of Georgia.

Source: http://georgiatoday.ge

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