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Energy Ministry Seeking Investors for the HPP’s Construction

Energy Ministry Seeking Investors for the HPP’s Construction

Ministry of Energy of Georgia, on behalf of the Georgian Energy Development Fund (GEDF), is looking for an investor for the construction of a giant hydroelectric– Namakhvami cascade.

The cascade consists of two hydro power plants with a total capacity of 433 MW. It is assumed that the hydroelectric power station  will be built   and operated by the investor. The project cost is $ 730 million, the HPP will be located in western Georgia. The Foundation states that the project meets the growing needs of the country in  electricity and grows Georgia’s  energy independence.

“The main purpose of the cascade construction is a better utilization of the hydropower potential of Georgia and export of electricity during the summer months. The deadline for submission applications expires on February 2, the hydropower plant will go into operation in 2021. The lowest possible rate for purchase of power by the state will be the main criterion for selection of investors,” GEDF statement reads.

A basic design of HPP was prepared by the international consulting company Studio Petragallo.

Initially the project involved the construction of a dam, but because of disagreements with the local population, it has been developed in accordance with their requirements. The new project is unacceptable for environmentalists, who claim that the impact on the nature of the updated project is less, however, this option cannot be considered optimal.