Indian energy company Tata Power said that its joint venture company Adjaristsqali Georgia (AGL) has synchronized the 186MW Shuakhevi Hydro Power Project (HPP) in Georgia.
The joint venture partners of Tata Power in AGL are Clean Energy Invest AS Norway (Clean Energy) and IFC InfraVentures (IFC), World Bank group member.
Tata Power also said that it has started stabilization procedures for the Georgian hydro power project to ensure that it operates smoothly.
According to the Indian firm, the $420m Shuakhevi Hydro Power Project in Adjara region which broke ground in 2013 was synchronized in less than four years.
Tata Power CEO and managing director Anil Sardana said: “We continue to strengthen our international presence and look for viable business opportunities across the select international geographies.
“We are grateful to our strategic partners, Clean Energy and IFC InfraVentures, for helping us complete and synchronize this project within the prescribed timeline.”
Sardana concluded that the stabilization procedures will ensure uninterrupted power supply from the Georgian hydropower plant.
Considered to be the largest hydropower project to be developed in Georgia during the last 50 years, the Shuakhevi HPP will produce around 470GWh of clean energy and reduce carbon emissions by over 2,00,000 tonnes per year.
The electricity generated by the Shuakhevi hydropower plant will be sold exclusively within Georgia right through winter which is when the country faces an energy deficit.
As part of the hydropower project, a wier and the Skhalta and Didachara dams along with their respective reservoirs and connected tunnels have been built to divert water for power generation. The dams have been constructed on the Skhalta and Adjaristskali rivers.
IFC had arranged a $250m debt financing along with the Asian Development Bank (ADB), and the European Bank for Reconstruction and Development (EBRD) for the Georgian hydropower project in 2015.
Resource: hydro.energy-business-review.com
