Indian investors start hydro projects in Georgia

On May 10, 2013 Tata Power International Pte Ltd signed the agreement with the Norwegian Clean Energy Invest AS (Clean Energy) and IFC InfraVentures Fund (IFC) on implementation of hydro projects in Georgia.

The total power of the projects is 400 MW. They will be implemented in three stages. Completion of the first stage (185 MW) is scheduled for the first half of 2016.

In winter the generated electric energy will be used to meet the domestic needs, while in summer it will also be exported, including the exports to Turkey, Business Georgia informs.

Tata Power and Clean Energy companies have the 40% shares each, while IFC Fund has 20%.

Project value is $400 million.

English translation by BSN