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EBRD to fund Lukhuni 2 HPP

EBRD to fund Lukhuni 2 HPP

European Bank for Reconstruction and Development (EBRD) has approved construction and operation project of the 17.2 MW Lukhuni 2 HPP.

Hydroelectric power plant will be placed on the Lukhuni River near the Uravi village in the Ambrolauri region, northern Georgia. Rustavi Group LLC is a special purpose vehicle (SPV) established for the sole purpose of constructing Lukhuni 2 HPP. Rustavi Group LLC will be ultimately owned by Rusmetali Ltd (51%), a limited company registered in Georgia, and JSC Partnership Fund (49%), an investment fund registered in Georgia.

EBRD will fund the project with 5.5 million USD. Total investment value of the project is 26.4 million USD. EBRD will allocate the sum through the partner TBC Bank, which assists EBRD in development of sub-credit management skills.