Georgia announces new Saguramo Hydro Power Plant

A new Hydro Power Plant (HPP) is being built in the village of Saguramo, located in Georgia’s Mtskheta municipality.

Georgian Water and Power (GWP), one of the leading water supplier companies in the South Caucasus, will invest 10.5 million GEL to build the new HPP.

The Saguramo HPP will have an installed capacity of 4.4MW and an annual output of 32 million KWh. The project was expected to be finished in November 2016.

Construction works have already begun at the site of the new HPP. Yesterday, Georgia’s Minister of Energy Kakha Kaladze visited the construction site with representatives of GWP.

Kaladze said local businesses had shown significant support for the country’s developing energy sector in recent years.

“It is very good that local financial organisations are involved in financing this project, such as TBC Bank. We welcome the fact that local businesses have become very active in terms of implementing projects in the energy sector,” Kaladze said.

The Minister believed the Government’s activities had encouraged Georgian and foreign investors to invest in the country’s promising energy sector.

“We have changed certain regulations and simplified the protocol for the implementation of investments,” Kaladze added.

He thanked all the investors who were involved in building the Saguramo HPP in Georgia’s Mtskheta municipality. (Agenda.ge)