We have successfully completed the development of two hydropower plants projects, Khopuri 2 and Khopuri 3. These projects received construction permits from the Georgian government on October 20th 2023. They will now be sold to Georgia Energy SICAV Inc. to carry out their construction. We are now finalizing the project documentation for the Khopuri 1 hydropower plant, which is expected to receive a construction permit in spring 2024. We are also working on the preparation of the Askitskali hydropower plant project, which will be completed during the next year.
What do we plan next?
Interest in hydropower plants projects in Georgia has increased significantly recently, among others, because preparations have begun for the construction of a submarine power cable between Georgia and Romania. This submarine cable will make it possible in the near future to supply electricity generated from renewable sources in Georgia directly to the European grid. We have therefore decided to expand our activities in Georgia and have signed an agreement with the Georgian government to develop the Lentekhi 1 (15 MW) and Lentekhi 2 (6 MW) hydropower plants projects and a 25 MW wind park near Kutaisi.