“Hydro Energy Corporation” plans to invest $ 1 billion in construction of HPP. As for Tato Tsintsadze, operating director of the company, agreement was signed in 2015 with Ministry of Energy and technical-economic research of the project is underway.
“This project covers three-cascade station in Western Georgia, with a total installed capacity of 560 MW and the output – 2160 GW / h. It’s more than a billion dollars investment. The HPP plays a very important role in the development of the economy as well as the stability of Georgia’s energy sector, ” Tsintsadze said.
As for the source of financing of the project, Tsintsadze explains that this is mainly Georgian investment, however, it is necessary to find additional sources.
“It is difficult for the investor to independently implement the project, therefore, it is necessary to find foreign investments as well as loan,” he said.