India’s Tata Power has announced the completion of a 187 megawatt (MW) hydro project in Georgia. The Shuakhevi Hydro Power Project was developed by Adjaristsqali Georgia LLC, a joint venture between Tata Power, Norway’s Clean Energy Invest and IFC InfraVentures.
Investment in the project exceeded $420 million, Tata Power said, and the facility is set to reduce greenhouse gas emissions by over 200,000 tons annually.
In a statement on Monday Tata Power’s CEO and managing director, Anil Sardana, said the project satisfied “Georgia’s electricity demand during winter, reducing dependence on imported fuel and increasing renewable energy output.”
Construction on the project began in 2013, with roughly 730 Georgians employed during the build.
“The Shuakhevi Hydro Power Project will contribute significantly to (the) energy independence of Georgia,” Prashant Joshi, CEO of Adjaristsqali Georgia LLC, said in a statement.
“We are supporting the strengthening of the energy sector with professional staff,” Joshi added. “Almost 90 percent of the Company’s employees are young Georgian engineers.”
According to the International Hydropower Association (IHA), hydropower represents over 80 percent of Georgia’s generating capacity and “between 75 to 90 percent of power generation, based on average hydrologic conditions.” The IHA adds that at the end of 2015 Georgia was home to over 70 operational hydropower stations, adding up to 2,727 MW in capacity.
Source: cnbc.com
