Georgia hydro projects attract $1 billion investment

TBILISI, Georgia 9/3/09 (PennWell) – A consortium of companies is expected to invest $1 billion in the construction of three hydroelectric projects totaling 450 MW on the Rioni River in the Republic of Georgia.

Marika Valishvili, Georgia’s deputy energy minister, said Turkey’s Nuroli, South Korea’s Korea Electric Power Corp. and SK Engineering & Construction will soon sign a memorandum to build the power stations at the Namakhvani Cascade in Western Georgia.

“We have already given our consent to the consortium, and a corresponding memorandum will be signed soon,” Valishvili said.

Georgia is trying to convince potential investor to build 78 hydropower projects with a total capacity of 1,031 MW. (HydroWorld 7/10/08) The energy ministry is seeking operators to design, build, finance, operate, maintain, and own the proposed hydro projects.

The 750-MW Khudoni hydro project on Georgia’s Enguri River is expected to be completed in 2010.

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