International Financial Institutions event to provide forum for hydropower investment

BAZALETI – The U.S. Agency for International Development (USAID)-funded Hydropower Investment Promotion Project (HIPP) hosted its second informational and networking event for stakeholders at Bazaleti Lake Hotel, north of Tbilisi. USAID’s Mission Director, Jonathan Conly, gave closing remarks.

The event brought together representatives of several international financial institutions (IFIs) including the German Development Bank (KFW), the Asian Development Bank, the World Bank, the European Bank for Reconstruction and Development, and USAID. Other participants and presenters include representatives from Georgia’s Ministry of Energy and local project developers.

IFI participation in Georgia’s hydropower markets is critical for the Government of Georgia as it promotes domestic and international investment in this field. The HIPP Forum will provide a collaborative venue for IFI representatives and other stakeholders to discuss the opportunities and challenges to investing in Georgia’s evolving hydropower market.

The event will give representatives of the Government of Georgia the opportunity to interact directly with IFI personnel and to learn more about the interests and first hand experiences of local project developers.

The USAID-funded Hydropower Investment Promotion Project (HIPP) is a three-year, $8.9 million project that will help attract local and foreign investment to Georgia’s energy sector in an effort to add 400 megawatts of clean, green renewable power to the Georgian grid. This new energy will help move Georgia closer to energy independence and serve as a profitable export to rapidly increasing yet underserved energy markets in Turkey and Eastern Europe with a view toward regional economic growth.