BAKU, Azerbaijan, Dec.15
By Tamilla Mammadova – Trend:
The Namakhvani hydroelectric power plant (HPP) project in Georgia will be implemented on time and successfully, said the Minister of Economy and Sustainable Development Natia Turnava, Trend reports via Georgian media.
She made the remark while presenting the 2020 report of the Ministry of Economy.
According to her, the ministry is dealing with the solution to the problem that has arisen around the project.
“The investor company ENKA Renewables LLC will employ more than 2,000 residents, which is very important. In addition, they carry out many social projects. We are involved in solving this problem. The project must be implemented with high quality, with the maximum observance of safety standards, and we do everything for this, the construction permit provides for certain stages and terms. The project will be successfully implemented on schedule,” Turnava said.
The Namakhvani hydropower plant cascade project is being implemented with a direct foreign investment of up to $800 million in Georgia
The main investor and majority owner of the project is the Turkish corporation ENKA (ENKA Inşaat ve Sanayi A.Ş.) with a 63-year history.
The Namakhvani HPP Cascade comprises the Lower Namakhvani HPP with an installed capacity of 333 MW and an estimated annual generation of 1,135 GWh, and the Upper Namakhvani HPP with an installed capacity of 100 MW and estimated annual generation of 343 GWh.
Meanwhile, the project comes with a 15-year power purchase agreement with the Government of Georgia, backed by a state guarantee for eight months of the year (September through April). These months will account for about 60 percent of the power to be generated by the project. Amounts generated over the guarantee, as well as any power generated following the expiry of the power purchase agreement, will be sold in the domestic market or exported.
According to the plan, the Namakhvani HPP cascade will be commissioned in 2024.
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