EBRD to help Georgia address energy shortages

Finance Materials 8 October 2019 22:42 (UTC +04:00)

Baku, Azerbaijan, October 8

By Tamilla Mammadova – Trend:

The European Bank for Reconstruction and Development (EBRD) will help Georgia to eliminate energy shortages, Trend reports citing the EBRD website.

The project cost for the extension project is estimated at 80 million euro with the European Investment Bank expected to provide co-financed with a 40 million euro loan.

The Project aims to make improvements to the Enguri HPP to alleviate the critical power shortage in Georgia at a low cost and to enhance the environmental benefits of the Enguri HPP facility and to rehabilitate and restore to full operating condition the derelict Vardnili 2, 3 and 4 hydropower cascade (40 MW capacity per plant; total rehabilitated capacity 120 MW) as part of the Enguri HPP.

The plants were designed to harness the residual energy potential of the water discharged from the Enguri HPP along the route from Enguri to the Black Sea. All three plants, which were constructed in the early 1970s, are damaged and are not in operation. The Project generally aims to increase the capacity and availability of non-polluting renewable energy in Georgia.

The project aims to increase the capacity and availability of clean renewable energy in Georgia.

Enguri HPP - the largest hydroelectric power station in the Caucasus, was built in the 1970s. The arched dam among the dams of this type is the highest in the world. Currently, the installed capacity of the enterprise is 1,300 MW, which covers half of Georgia’s electricity needs.