Czech company Energo-Pro, which acquired much of Georgia’s electricity system earlier this year, says it plans to invest US$417 million in the country’s power sector over the next five years.
“We intend to invest US$100 million in improving the electricity distribution system of Georgia, US$85 million in rehabilitation of power generation outlets, US$120 million in construction of a new hydropower station,” Jiri Krusina, head of Energo-Pro’s supervisory board in Georgia, said September 14.
Energo-Pro won Georgia privatization tenders for six hydropower stations totaling 361.4 MW and two regional distribution utilities. The US$427 million deal, which closed in February, was coordinated by the Czech state-owned Export Bank. (HNN 2/7/07)
Krusina said the company would construct a new large-capacity hydropower station in order to use its own power resources. He did not specify the location for the construction.
Another major investor in Georgia’s energy sector — Russia’s Inter RAO UES — said this month it would invest US$27 million in Georgia through the end of 2007 and that it plans to construct a new hydropower station in the country.
Georgia has been selling its power facilities to improve electricity supply and to end protracted crises in the energy sector. Expressions of interest are due September 20 to privatize the state-owned 130-MW Zhinvali hydroelectric project and the related Tbilisi and Mtskheta Water Supply Systems. (HNN 8/8/07)