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Investor of Namakhvani HPP Cascade to Spend 733 mln in Georgia

Investor of Namakhvani HPP Cascade to Spend 733 mln in Georgia

The investor of Namakhvani HPP cascade requested a guaranteed tariff for only eight months (September through April) for the first 10 years.

The Norwegian company, Clean Energy Group, was granted the right to build due to this term. According to G&T, experience and financial performance were the prequalification criteria, while the PPA terms offered by the bidders were the deciding factors.

As of the conditions, an estimated US$ 733mn will be spent on the construction of the Namakhvani HPP cascade in the next 5 years. Annual generation of the Namakhvani HPP cascade is estimated at 1.5tWh, which represents 11.0% of the projected Georgian electricity consumption in 2022.