Partnership Fund Becomes Stakeholder of Nenskra Hydro
Partnership Fund has become a stakeholder in Nenskra Hydro. Representatives of Partnership Fund management and K-Water design company held a working meeting.
Namely, Partnership Fund has bought 20 000 shares of Nenskra HPP, that is about 10% stake in the project.
At the meeting the parties signed official document on transmitting Nenskra Hydro shares to JSC Partnership Fund. The document was signed by Natia Turnava, deputy CEO of Partnership Fund and Buong Seub Choi, Nenskra Hydro director general.
Nenskra HPP with 280 megawatt power is being constructed by Partnership Fund together with its partner Korean company K-water in Svaneti, on Enguri River tributary. Potential annual generation is 1 200 gigawatt/hours. The HPP will launch power generation in 2019, while project implementation will end in 2021. The construction is implemented by a major Italian company Salini Impregilo together with Georgian contractor construction consortium GCC. Total value of the project is 1 billion USD. European Bank of Reconstruction and Development (EBRD), Asia Development Bank (ADB) and Korean Development Bank (KDB) participate to the bank loan component.