GOGC to Build Third Steam Power Plant in Gardabani
Georgian Oil and Gas Corporation (GOGC) plans to build the third steam power plant in Gardabani. To this end, the company has already started preparing feasibility studies.
The investment value of the new 270-megawatt facility is 225 million USD, GOGC representatives told BM.GE.
“At this stage, feasibility studies are being prepared for the third steam power plant in Gardabani, under the Georgian Government’s resolution. Later we will specify the facility location”, GOGC officials said.
The corporation has already started working on attracting the requirement investments – in April 2020, the corporation plans to issue 300 million EUR bonds of which 70-80 million USD will be spent on implementing the mentioned project.
At the end of 2019, GOGC finished a construction of Gardabani 2 block. The 230-megawatt steam power plant has already started operation in test regime and supplied electricity to Georgian State Electrosystem (GSE).
GOGC has finished the year of 2019 in essential profits. At this stage the GOGC website has published the 2019 intermediary indicators, under which in January-June GOGC revenues made up 433.8 million GEL and net profits constituted 32.3 million GEL.