Toshiba caps liability for nuclear plant at $3.7bn

Toshiba has capped its liability for a nuclear power plant in Georgia, US, at $3.7 billion (£2.9bn). Georgia Power has entered into new agreements with the Japanese technology giant, which is parent company of Westinghouse, the now bankrupt contractor on the Vogtle nuclear plant. The agreement, approved by the US Department of Energy (DoE), affirms […]

Georgia to get its first wind power plant

Georgia has announced it is to receive the first wind power plant in the Caucasus region. The European Bank for Reconstruction and Development (EBRD) has arranged a $22 million (£17.4m) loan for Qartli Windfarm LLC to develop, construct and operate the wind farm. The bank is providing a $10 million (£7.90m) portion of funding with the remaining […]

$723m to build hydropower plant in Georgia

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 […]

Georgia lent €100m for wastewater treatment

The European Investment Bank (EIB) is providing €100 million (£73.6m) for a wastewater collection and treatment project in Georgia. It will help finance the rehabilitation and extension of the municipal sewerage system as well as the construction of a biological wastewater treatment plant in Kutaisi, the second largest city in Georgia. The total project cost, […]

$125m to improve energy efficiency in Georgia

Georgia has been granted a loan worth $125 million (£80m) to support energy efficiency in the Caucasus. Businesses looking to be more efficient can apply for a share of the loan. The Energocredit programme is supported by the European Bank for Reconstruction and Development (EBRD), the European Union’s Neighbourhood Investment Facility (NIF) and Austria. The EBRD claims cement producer Georgian Building […]

Shell to sell all its stake in Georgian LNG terminal

Shell is selling all of its stake in Elba Liquefaction Company (ELC) to Kinder Morgan. The project is proposed to be constructed and operated at the existing Elba Island LNG Terminal near Savannah, Georgia. Kinder Morgan currently owns 51% of the ELC joint venture. Shell owns the remaining 49% and subscribes to 100% of the […]

US issues final $1.8bn for nuclear project

The US Department of Energy has provided its final $1.8 billion (£1.1bn) loan for a nuclear project plant in Georgia. It had previously issued $6.5 billion (£4bn) for the Vogtle project which is said the first new nuclear power plant to be licensed in more than three decades. The loan will help build two new reactors with a capacity of 1,100MW […]

Georgia signs deal for first wind farm

Georgia is preparing to build the nation’s first wind farm as it signed an initial agreement with a London-based bank. The Government of Georgia and the European Bank for Reconstruction and Development (EBRD) signed a letter to work together on the project. The EBRD is considering providing up to $25 million (£16m) for the wind […]

Hydropower in Georgia gets $250m boost

Georgia is receiving financial help worth $250 million (£169m) to help tap the nation’s hydropower potential. The 187MW Shuakhevi plant is expected to help reduce Georgia’s dependence on imported fuel and increase renewable energy output, meeting its electricity demand during the winter. It will also help trade electricity at other times by exporting it to […]

Armenia-Georgia power link project lent €95m

The power line linking Armenia and Georgia is getting a boost, thanks to a €95.2 million (£68m) loan announced today. The European Investment Bank (EIB) said it is providing €10 million (£7.2m) while German bank KfW is lending €85.2 million (£61m) for the project. The cash will be used to build the new electricity transmission […]