Economy
Posted: 1 month ago

GeoSilkRoad Plans to Build a Medium HPP in Racha with Kuwaiti Investment

International Holding GeoSilkRoad, in partnership with Turkish and Azerbaijani companies, plans to implement a medium-sized hydropower project in Racha.

Speaking to BM.GE, GeoSilkRoad Director Davit Tsirdava did not specify the project implementation dates, exact location, and investment for this stage, but noted that the HPP project will be implemented with Kuwaiti investment.

The head of a Georgian company that attracts investments in the country says that the HPP in Racha will be built in partnership with Turkish and possibly Azerbaijani companies.

"At the end of last year, we signed an important agreement with a Turkish holding company on the implementation of a hydropower project in the country. Today we are negotiating with Azerbaijani businesses on the prospects of implementing the HPP project in Racha.

We have three main barriers to overcome when implementing a hydropower project: First of all, we will start communicating with the local population to show their perspectives on the importance of implementing such projects for their village and region. We know the attitude of the population towards energy projects and that is why we want to work properly with the locals. We do not perceive this as a barrier, the main thing is to deliver the information correctly. This will be the first phase of the project implementation, and the second phase involves the full development of the project, which includes the preparation of an environmental impact assessment in cooperation with leading international companies. We want to involve a Spanish company in the research in order to have high credibility for the project. Therefore, we can not say the exact dates of the project, "- said David Tsirdava.