TEPCO Renewable Power Acquires Shares in Dariali Hydropower Project in Georgia

TEPCO Renewable Power has acquired 31.4% of the shares in JSC Dariali Energy, a hydropower company in Georgia, from Peri LLC for the purpose of participating in the 108-MW Dariali Hydropower Project. The company declared on this matter on April 28th.

TEPCO RP’s share in the project will be 33.9 MW. It is the Japanese company’s second investment in a hydropower project overseas, according to a press release.

The Dariali plant is located on the Tergi River in Kazbegi Municipality. Its annual energy generation amounts to 510 million kWh, which accounts for about 4% of Georgia’s annual electricity consumption.

Dariali is the first carbon-neutral project in Georgia and among all European Bank for Reconstruction and Development-financed projects worldwide. JSC Dariali Energy received the Silver Award for “Environmental and Social Best Practice” from EBRD.

TEPCO RP plans to dispatch executives and staff to JSC Dariali Energy so that it can leverage its know-how and experience in operation and maintenance. The company will contribute to strengthening the operational capabilities at the Dariali project in areas such as O&M optimization.

As Natia Turnava mentioned, this is the largest investment so far from Japan. 

"Due to coronavirus outbreak, several investors decided to enter the market of Georgia.", stated Natia Turnava.

She also marked out, that the present global challenges might become the opportunity for Georgia to be able to attract large corporations, since they realised, that it is better for businesses to be insured geographically.