India interested in financing Georgian HPP construction
By Sabina Idayatova
Minister of Energy and Natural Resources of Georgia Kakha Kaladze
met with representatives of the State Bank of India and Trans
Electric, an investing company of Khudoni HPP, on Wednesday.
According to Kaladze, State Bank of India is interested in
joining the Khudoni HPP funding.
After the examination of the financial risks of the project, the
State Bank of India will take a decision on allocating a loan for
construction of the hydropower plant.
The State Bank of Georgia will finance 70 percent of the
construction costs of Khudoni HPP.
Khudoni HPP creates a unique investment opportunity in
hydro-power sector and is implemented in Samegrelo - Zemo Svaneti
region on Inguri River. The Khudoni Hydro project is about 34 km
upstream of operational Inguri Arch Dam (1,320 MW) and comprises
diversion tunnel, coffer dams, water intake and penstocks,
underground powerhouse, tailrace tunnels, and other associated
works. Khudoni HPP`s installed capacity is 702 MW with annual power
generation reaching 1,539 billion KWh. The project envisages
construction of an arch dam at crest with columns, with a height of
200.5 meters and costs $1.125 billion.
The construction of hydropower Khudoni suspended for determination
of full effects on the Georgian ecosystem. The construction of the
plant began in the 1990s, but was stopped under pressure of the
national liberation movements and the "green" parties. Later,
Mikheil Saakashvili's government made a decision to continue the
construction, whilst the project was anew suspended after the
Georgian Dream's coming to power.