The US-based Shulze Global Investment plans to build small and medium hydro power plants (HPP) in Georgia with the support of the Caucasus Clean Energy Fund (CCEF).
According to the Partnership Fund’s information, the CCEF has already drawn 5 million USD. The Partnership Fund has pledged to support Shulze Global Investments.
The parties have signed a mutual cooperation memorandum.
“The Fund starts with 50 million USD and plans to increase investments to 100 million USD in the near future. These efforts will make serious contribution to the power sector enhancement in the country and the whole economy development”, the Partnership Fund head David Saganelidze said.
At this stage, the Partnership Fund provides support of several energy projects, including HPP projects in Racha and Svaneti Region.