ENKA Renewables: Namakhvani HPP Cascade project to have substantial impact on property tax
BAKU, Azerbaijan, Sept. 18
By Tamilla Mammadova – Trend:
The Namakhvani hydropower plant (HPP) Cascade will be the largest energy project in the history of Georgia's independence, ENKA Renewables LLC told Trend.
"The annual output of the 433-megawatt cascade will reach 1,500 GWh, which is 11.7 percent of Georgia's total consumption in 2019," the company said.
As the company noted, in addition to significantly enhancing Georgia’s power system, the project will have a substantial impact on the property tax that will be paid by the project company ENKA Renewables LLC during the construction period alone amounts to $8 million.
"The Namakhvani HPP cascade project will employ up to 2,000 people, 80 percent of whom will be Georgian citizens. The project gives the first priority to the community from the affected area. Currently, more than 300 people are employed by the project," the source said.
According to the ENKA Renewables LLC within the framework of the project, the Namokhvani-Alpana section of the Kutaisi (Choma) - Alpana-Mamison road will be constructed. The approximate cost of the road section is up to 200 million laris ($63.5 million), it will be fully covered by the project company. Once completed the road section will be transferred to the state of Georgia for free.
"In addition, the company implements micro and small business support programs aimed at the economic empowerment of the population living in the project area. In addition, other types of projects are planned that will contribute to the sustainable development of the local community," said the company.
Meanwhile, Namakhvani HPP Cascade comprises the Lower Namakhvani HPP with the installed capacity of 333 MW and an estimated annual generation of 1,135 GWh, and the Upper Namakhvani HPP with an installed capacity of 100 MW and estimated annual generation of 343 GWh.
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