EBRD to help finance 17-MW hydropower project in Georgia

The European Bank for Reconstruction and Development (EBRD) will provide a senior loan of up to USD 5.5 million (EUR 5.2m) for the construction and operation of the 17.2-MW Lukhuni 2 hydropower plant (HPP) in northern Georgia.

According to project summary documents released by the bank on December 7, the total cost of the hydro project amounts to USD 26.4 million.

The particular run-of-the-river HPP will be constructed by Rustavi Group LLC on the Lukhuni river near the Uravi village in the Ambrolauri region. Rustavi Group is a 51/49 joint venture between Rusmetali Ltd and the JSC Partnership Fund.

An Environmental Impact Assessment (EIA) has already been prepared and approved by the competent authority, the bank says. Rusmetali began initial construction work on the project in 2011, the documents mention.

(USD 1.0 = EUR 0.946)

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