Tbilisi, Georgia, Oct. 10
By Nana Kirtzkhalia - Trend:
Georgia's Prime Minister Irakli Garibashvili will visit Oct. 11 the opening of the Paravan hydropower plant in the country's southern region of Samtskhe-Javakheti.
The opening ceremony will be attended by Georgian Vice-Prime Minister, Energy Minister Kakha Kaladze, Turkey's Energy and Natural Resources Minister Taner Yildiz, the European Bank for Reconstruction and Development (EBRD) Director for Caucasus, Moldova and Belarus, Bruno Balvanera.
The Georgian government's press service told Trend that the completion of the hydropower plant's construction is a landmark event for Georgia, because it will significantly improve the country's energy supply, energy security and energy exports.
The hydropower plant's output stands at 85 megawatts. It was built on the Paravani River in Samtskhe-Javakheti region, near the border with Turkey.
"The EBRD is proud to promote the renewable energy's development in the country, and these efforts have already given results," Bruno Balvanera said.
"This facility can be seen as a landmark project, as this is Georgian private sector's first large-scale initiative in renewable energy generation. It also has a large-scale value, as both border countries will get the benefit," he said.
To finance the hydropower plant, the EBRD approved a $52-million loan.
The International Finance Corporation (IFC) allocated $40.5 million, and additional $23 million were invested by commercial banks.
The facility was built by Turkish company Anadolu Group. The hydropower plant is connected via a transmission line to the Akhaltsikhe substation, which was also funded by the EBRD.