Georgia’s Ministry of Economy has completed negotiations on the construction of another giant hydroelectric power station Namakhvani HPP, Deputy Minister of Economy Natia Turnava says.
According to the Deputy Minister, the text of the agreement is already being considered by the government, after which the document will be signed and construction will commence.
“This is one of the largest projects in Georgia’s history and will boost the country’s energy security. Importantly, the project, despite its scale, was compiled with strict compliance with all applicable environmental legislation. Apart from that, the investor took on a very large social responsibility that was also our principled position, ”the Deputy Minister notes.
The hydroelectric power plant will be built by the Turkish company MK and the Norwegian Clean Energy Group. With a capacity of 433 megawatts the HPP will increase energy production in Georgia by 15%. The investment cost of the project is $ 750 million.