Tbilisi, Georgia, Oct.12
By Nana Kirtzkhalia - Trend:
Georgian Prime Minister Irakli Garibashvili, Minister of Energy Kakha Kaladze and Turkish Minister of Energy and Natural Resources Taner Yildiz opened the Parvani hydro power plant in the Samtskhe-Javakheti region (South Georgia) near the border with Turkey on Oct.11.
The ceremony was attended by Regional Director of the European Bank for Reconstruction and Development (EBRD) for the Caucasus, Moldova and Belarus, Bruno Balvanera.
Note, the EBRD and Turkey's Anadolu Group company funded the construction of the hydro power plant.
The European Bank approved $52 million worth of loan for funding this project. The International Finance Corporation allocated $40.5 million, while additional $23 million was issued by commercial banks.
"We are opening a hydro power plant, the project successfully implemented as a result of cooperation with the Turkish side. Parvani hydro power plant is another step towards strengthening the country's economy and a proof of close cooperation between Georgia and Turkey," Garibashvili said.
"Turkey is one of the major investors in Georgia's economy, and I'm very glad that numerous joint projects have been successfully implemented in recent years. We welcome the increase of Turkish investments."
The prime minister added that the growth of the energy sector allows to further develop the country's economy.
"There wasn't built such a powerful hydro power plant in our country over the last 35 years," Kaladze said adding that over $200 million was invested in the implementation of this project.
"As a result, we got 87 megawatt of electricity, which will allow to develop the economy. We are holding negotiations with Anadolu Group to implement another three projects in Georgia," he added.
Kaladze said the completion of the construction of the Parvani hydro power plant is a landmark event for Georgia, as it will improve the country's power supply, energy security and the export of energy resources.
Turkish Minister Taner Yildiz said the Parvani hydro power plant will allow to implement larger projects in Georgia with Turkish investments in the future.
"The European Bank is proud to promote the development of the renewable energy in the country and these efforts have already brought results. This facility can be regarded as a landmark project, as it is the first project implemented in Georgia's private sector in the generation of renewable energy," Balvanera said.