EBRD to Finance the Construction of 3 Hydro Power Plants in Svaneti
The European Bank of Reconstruction and Development will finance the construction of three power plant. Namely, EBRD has allocated 6.87 million USD for the construction of the Nekra, Khelra and Ifari power plants. The combined total cost of the projects is 19.5 million USD. The strength of the power plant projects will be 13.7 MW.
The loan is given through the support of TBC bank. The implementing organization of all three projects is LLC Aquahydro , 100% of the shares of which are the property of Aqua Energy LL. In addition, 40% of the project is expected to become the ownership of the Black Sea Group.