On the April 27th the Nenskra Hydropower Project Environmental & Social Impact Assessment Report public hearing was held in Tbilisi. The event was attended by representatives of both the civil society organizations and the governmental officials.
The report comprises of supplemental studies carried out in accordance to the high standards of the International Financial Institutions, such as EBRD (European Bank for Reconstruction and Development), ADB (Asian Development Bank), EIB (European Investment Bank), KDB (Korean Development Bank), SACE (Italian Export Credit Agency) and AIIB (Asian Infrastructure Investment Bank.
The Involvement of the aforementioned Financial Institutions will secure the financial stability of the project and will also guarantee its correspondence to the highest standards in terms of being socially and environmentally sound, safe, technically advanced and sustainable.
The supplementary studies were carried out by international and local companies.
“We are determined to base our work on the principles of on transparency. Today’s public hearing will mark the beginning of our continuous dialogue with civil society, which is crucial for implementation of such a high-profile project of state importance as Nenskra HPP”, JSC Nenskra Hydro Chief Executive Officer, Mr. Byoung Seub Choi has noted.
JSC Nenskra Hydro is a special purpose vehicle established in Georgia in 2015 as a result of cooperation between South Korean state company K-Water and JSC Partnership Fund. The purpose of the company is to construct the Nenskra Hydropower Plant in Nenskra and Nakra rivers’ valleys in Mestia Municipality of Svaneti region. The power plant will generate 1.2 GWh of electricity, which will be fully consumed by the local market.