Georgia Signs Memorandum of Cooperation with KHNP
Well-known South Korean company KHNP (Korea Hydro & Nuclear Power Co) launched the study on Georgia’s energy potential. The Memorandum of Cooperation with Georgia was signed at the Ministry of Economy and Sustainable Development. Deputy Minister of Economy and Sustainable Development, Ekaterine Mikabadze and the KHNP President, Jae Hoon Chung signed the document.
As noted in the Memorandum, the Parties confirm their readiness to cooperate and discuss investment opportunities in terms of hydropower plants and other renewable energy projects.
The meeting led by the Deputy Minister of Economy and Sustainable Development, representatives of the Korean company were introduced to the Georgia’s Energy Development Strategy which implies construction of power plants, as well as the development of other renewable energy systems. The Korean side once again confirmed their interest in investing in the Georgian energy sector and involvement in such large-scale project as the Tskhenistskali Cascade.
KHNP is one of the largest energy companies in the South Korea, providing 30 percent of the country’s total power supply. The installed capacity of the energy generated units in its total capacity is 26,000 MW. The company is actively working on creating and development of small power plants, as well as solar and wind power plants using the ultramodern technologies.