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Who will Build Namakhvani HPP, Three Companies Moved to Second Stage

Mamuka Kobakhidze, director of “Energy Development Fund” declares, that interest expression announced on Namakhvan HPP Cascade is finished and selection is carried among three companies.

The so-called short listed candidates are China Power, Georgian-Austrian company General Power and Clean Energy Invest. Kobakidze declares that financial details and fusibility studies of the companies are being carried at this level.

How they will be able to make such amount of investment, while the second stage of selection includes which company offers the lowest purchasing price through 8-12 yeas.

According to him, discussion of these details and agreements require 6 month in total. As of the plan, the selected company must build 1 cascade within 3 years, while 2 cascades in 5 years.

Supposed investment volume of the project is $750-800 million. According to Kobakhidze, 30-40% will be company’s own funds, while the remained – credit resource. To remind, 26 companies were participating in the interest expression.