A hydropower project in Georgia is receiving a $723 (£469.9m) million investment.
It comes from the Georgian Co-Investment Fund (GCF) after signing a Memorandum of Understanding with the country’s government.
The Tskhenistskali hydropower plant, which will be owned by GCF, is expected to have a capacity of 347MW.
The electricity generated will be used for domestic consumption during the winter and exported during the summer.
George Bachiashvili, CEO of GCF said: “The project will not only bring significant benefits to the domestic electricity market and the local population but they will also enable Georgia to become a prominent energy exporter catering for power demand from the region’s big growth economies.”