Georgia auctions six hydro plants, three utilities

Georgia’s Ministry of Economic Development seeks bids by June 16 for privatization of six hydroelectric projects totaling 361.4 MW and three regional electricity companies.

Hydro projects offered include:
o Lajanuri (also spelled Ladjanuri), 112.5 MW, Lajanuri River at Tsageri, starting bid price US$26 million equivalent in Georgia lari;
o Rioni, 48 MW, Rioni River at Kutaisi, starting price (US$14 million equivalent in lari;
o Gumati Cascade plants, 66.5 MW, Rioni River at Kutaisi, starting price US$12 million equivalent in lari;
o Shaori, 38.4 MW, Shaori River at Tkibuli, starting price US$12 million equivalent in lari;
o Dzevruli, 80 MW, at Terjola, starting price US$14 million equivalent in lari; and
o Atsi, 16 MW, at Keda, starting price US$4 million equivalent in lari.

The three distribution utilities offered for auction are United Energy Distribution Co. of Georgia, of Tbilisi, starting price US$30 million equivalent in lari; Energy Co. of Adjara, of Batumi, starting price US$5 million equivalent in lari; and Kakheti Energy Distribution, starting price US$2 million equivalent in lari.

Winning bidders for the hydro projects will be required to maintain working capacity at no less than 85 percent of installed capacity. Additionally, 50 percent of the privatization amount for all the hydro plants but Shaori is to be paid within one month of the signing of a purchase agreement, with the remaining 50 percent paid by December 1.

The ministry said proposals will be chosen based on the maximum price above the starting price. However, it said preference for the hydro plants would be given to the winners of competition for the energy distribution companies.

Bids are due to the address below by 6 p.m. June 16. For information, contact Ministry of Economic Development of Georgia, 12 Rustaveli Ave., Room 411, Tbilisi 0108 Georgia; (995) 32-999104; E-mail: info@privatization.ge; Internet: www.privatization.ge.

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