About Civil.ge
Eng | Geo | Rus
Last updated: 10:55 - 1 May.'18
RSS
Mobile
Twitter
Facebook
Tata Power, Clean Energy Invest and IFC Team Up for Georgia Hydro Projects
Civil Georgia, Tbilisi / 13 May.'13 / 16:22

Tata Power, India's largest integrated private power utility, Norway-based Clean Energy Invest AS and IFC InfraVentures signed an agreement last week to develop hydro power projects in Georgia’s Black Sea region of Adjara with an aggregate capacity of 400MW and an estimated cost of USD 700 million.

“The power generated by the projects is planned to be vended primarily to Turkey,” Tata Power said in a press release on May 10.

According to the company, the projects will be developed in three phases with the first phase of 185MW expected to be completed before mid-2016.

Tata Power and Clean Energy will hold 40% each with the rest going to IFC InfraVentures, which is a fund created by the International Finance Corporation (IFC), member of the World Bank Group, in 2008 to support and develop private and public-private partnership infrastructure projects in the world’s poorest countries.

“Georgia is a great country to work in and Turkey is a fast evolving energy market in Europe. This relationship with Clean Energy and IFC puts us on a strong footing to take advantage of the considerable potential of this market,” said Tata Power’s managing director Anil Sardana.

It was announced that Tata Power and Clean Energy Invest were in the process of formalizing partnership over development of Adjaristskali hydro power project in late February, when chief executives of the two companies visited Georgia and met PM Ivanishvili.

The Georgian Energy Ministry and the Clean Energy Invest AS agreed on development of hydro power plant project on Adjaristskali river in Adjara Autonomous Republic in June, 2011.

Latest News
01 May.'18 10:55
We Have Moved to a New Platform
Direct Your Bookmarks to https://civil.ge.
29 Apr.'18 03:54
Ruling Party Candidate Wins MP By-Elections
Givi Chichinadze will represent Vani and Khoni single-mandate constituency in the Parliament of Georgia.
28 Apr.'18 09:40
Polls Open for Vani and Khoni MP By-Elections
48,123 voters are eligible to cast their ballots in Vani and Khoni single-mandate constituency.
27 Apr.'18 17:23
State Dept’s Europe Affairs Point Man to Visit Tbilisi
Wess Mitchell will meet senior government officials and address the NATO-Georgia Public Diplomacy Forum.
27 Apr.'18 13:45
In Quotes: Georgian Politicians on Ex-PM Bidzina Ivanishvili’s Comeback
Bidzina Ivanishvili will be approved as the Georgian Dream party chairman at the upcoming convention.
26 Apr.'18 18:15
SG Jens Stoltenberg: Georgia NATO’s ‘Very Close’ Partner
The NATO Secretary General says Foreign Ministers meeting tomorrow will recognize the country’s progress.
26 Apr.'18 14:24
Ex-PM Ivanishvili to Chair Georgian Dream Party
Prime Minister Giorgi Kvirikashvili said Ivanishvili was ‘best equipped’ to add new dynamism to the party.
26 Apr.'18 11:12
Lawmaker Proposes Criminal Liability for ‘Insult of Religious Feelings’
The parliamentary human rights committee decided to set up a working group for scrutinizing the draft law.
25 Apr.'18 17:21
New Abkhaz Government Head Appointed
Gennady Gagulia has served as the Abkhaz “prime minister” twice - in 1995-1997, and 2002-2003.
25 Apr.'18 14:43
Watchdog Improves Georgia’s Press Freedom Ranking
None of the countries of the former Soviet Union (except the Baltics) are ranked ahead of Georgia.

About Civil Georgia
Civil.Ge © 2001-2019, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
32