BAKU, Azerbaijan, Jan. 9
By Tamilla Mammadova – Trend:
Georgian Oil and Gas Corporation (GOGC) plans to build a third thermal power plant (TPP) in Gardabani, Trend reports citing Georgian media.
To this end, the company has already begun preparing feasibility studies.
Reportedly, the investment value of the new 270 megawatt power unit is $225 million.
“At this stage, in accordance with the decision of the Government of Georgia, feasibility studies are being prepared for the third TPP in Gardabani. Later we will check the location of the object,” the GOGC said.
The corporation has already begun work to attract the necessary investments. In April 2020, the corporation plans to issue bonds worth 300 million euros, of which $70-80 million will be spent on the implementation of this project.
At the end of 2019, GOGC completed the construction of the Gardabani-2 block. A 230 megawatt steam power plant has already begun operation in test mode and is supplying electricity to the Georgian State Power System (GSE).
GOGC ended 2019 with tangible profits. GOGC revenue from January through June 2019 amounted to 433.8 million lari ($151.4 million), and net profit 32.3 million lari ($11.2 million).
JSC Georgian Oil and Gas Corporation is a multidisciplinary company operating in various fields of energy. It has the status of a national oil company and protects the interests of the state in production sharing agreements signed with investors.
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