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Georgia Hydroelectric Plant to Supply Turkey

Georgia Hydroelectric Plant to Supply TurkeyGeorgia Hydroelectric Plant to Supply Turkey

Turkish conglomerate Anadolu Group held an official inauguration for a hydroelectric power plant on the Paravani River in Georgia that will help Turkey meet some of its electricity needs.

Construction of the plant was completed in four years, and it is the largest sustainable energy project in the history of Georgia. With an installed capacity of 85 megawatts (MW), the plant is expected to generate 410 million kilowatts (kW) per year, which would meet the annual electricity needs of 160,000 people.

The plant -- located 25 kilometers from the border between Turkey and Georgia -- will serve the energy needs of both countries. For nine months out of the year the plant will provide electricity to Turkey; the electricity generated in the remaining three months will stay in Georgia, Today's Zaman reported Monday.

The total cost of the project to Anadolu Group was $185 million, $115 million of which was financed by international financial institutions, said head of the conglomerate Tuncay Ozilhan, who made a speech during the inauguration underlining that the project is the first plant of its kind established abroad by a Turkish company.

In addition to Ozilhan, Georgian Prime Minister Irakli Garibashvili, Georgian Energy Minister Kakha Kaladze and Turkish Energy and Natural Resources Minister Taner Yildiz attended the opening.

Speaking at the ceremony, Ozilhan said Anadolu Group has made investments in Georgia worth $350 million, including the Paravani hydroelectric project.

The Georgian prime minister pointed out that the project is the largest foreign investment to date, stating that it will contribute significantly to the trade volume between the two countries.

In a speech at the ceremony, Yildiz said the plant is the most recent in a series of projects that have strengthened relations between the two counties, including the Baku-Tbilisi-Ceyhan (BTC) oil pipeline, the South Caucasus Pipeline and the Baku-Tbilisi-Kars railway project.

 

Financialtribune.com