JSC "Hydrogenius" Acquires 100% Stake in "Mtkvari Hesi" Project

"Mtkvari HPP is one of Georgia's most prominent hydropower projects, with a total installed capacity of 54.1 MW and an average annual electricity output of 259.8 million kWh. A significant milestone in the project's development was achieved in early February 2020, with the completion of the country's longest and largest diameter tunnel, excavated using a Double Shield TBM.

As you may know, private investment funds typically aim to invest and eventually divest their shares through various mechanisms. We have reached this stage with several projects and have engaged in substantial negotiations with investors. The transfer of the "Mtkvari HPP" project exemplifies this process," stated the Foundation in a communication to "Business Partner."

To recap, in 2014, the co-investment fund fully acquired the long-stalled project and resumed its construction.

The total installed capacity of the "Mtkvari HPP" project is 54.1 MW, with an average annual electricity production of 259.8 million kWh. Notably, the project's estimated annual output constitutes 1.8% of Georgia's total electricity consumption, which was 14.2 TWh in 2022. In early February 2020, the excavation of Georgia's longest and largest diameter tunnel, spanning 9.6 km in length and 6 meters in diameter, was completed as part of the "Mtkvari HPP" project.