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EBRD supports construction of 85MW hydropower plant in Georgia

22 Sep 2011

The European Bank for Reconstruction and Development (EBRD) is making a $5m equity investment in Georgia Urban Energy (GUE), a unit of Turkey-based Anadolu Group, to support the construction of a new hydropower plant in Georgia.

This investment will help GUE complete the construction of the 85MW Paravani hydropower project in the south west of the country.

The plant will be connected to both Georgian and Turkish grids through a converter substation located in Akhaltsikhe, Georgia.

The substation is part of the EBRD-funded Black Sea High Voltage Transmission Line project that connects the Georgian and Turkish electricity networks.