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Home / Economy / EBRD to Finance the Construction of Nenskra Hydro Power Plant by $ 229 million

EBRD to Finance the Construction of Nenskra Hydro Power Plant by $ 229 million

The European Bank for Reconstruction and Development (ERBD) will finance construction of Nenskra Hydro Power Plant in Svaneti with $ 229 million.

15 million dollars will be spent on improving ecological conditions, in particular the reduction of greenhouse gases. In the framework of the Green Economy Transition (GET) initiative, the remaining 214 million dollars will be used for construction of HPP.

 “Partnership Fund”, along with partner Korean company K-Water, builds 280 MW Nenskra Hydro Power Plant on the Enguri tributary in Svaneti, which potential annual output will be 1.2 billion kWh / h.

The station will start generating electricity from 2019, and the project will eventually be completed in 2021.

The largest Italian company Salini Impregilo, the winner of the international tender, will construct the Georgian consortiumwith GCC. The total cost of the project is 1 billion US dollars. The European Bank for Reconstruction and Development (EBRD), Asian Development Bank (ADB) and Korean “eksimbank” participate in the bank loan component.