“Nenskra will be the largest hydro power construction in the region”

“Nenskra will be the largest hydro power construction in the region”

“We are working on a huge project – Nenskra Hydro Power Plant, which will be the largest hydro power construction in the region”, – stated Bruno Balvanera, Regional Director of the European Bank of Reconstruction and Development, in his statement at the Silk Road Forum. According to him, investment reaches billions of US dollars. 

“We have a team of professionals that listens to the society, considers and handles the challenges”, – stated Bruno Balvanera.

The South Caucasus Director of the European Bank of Reconstruction and Development elaborated on Baku-Tbilisi-Ceyhan implemented project in Moldova and Belarus and in his statement reviewed Shah-Deniz project.

According to him, one month ago, EBRH signed the largest financial project (worth of 500 mln USD) of the last 25 years. As he noted, “This is EBRD’s huge contribution to this project, which ensures transportation of natural gas to Italy from Shah-Deniz, via Caspian Sea, Azerbaijan and Georgia. This project was recognized by BP as the largest ever transaction”.

As stated Bruno Balvanera, renewable energy is of great importance for the European Bank of Reconstruction and Development: “We have started using water power not only in Georgia but in the region as a whole. Unlike Georgia, many other countries do not have such a potential. Water and solar renewable energy is also very important”.

According to Bruno Balvanera, among EBRD’s wind, solar and water power project, Poland holds the leading position, followed by Romania and Georgia.

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