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 […]
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, […]
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 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 […]
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 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 […]
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 […]
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 […]
A London-based bank has arranged a $65 million (£38.7m) loan for a project to promote an “environmentally-friendly alternative to conventional fuels” in Georgia. The loan will support an investment programme of Wissol Petroleum, which includes the expansion of gas filling stations that offer compressed natural gas (CNG). The company aims to open up to 38 […]
The World Bank has approved funding worth $60 million (£35.8m) to help finance a power project in Georgia (pictured). The ‘Transmission Grid Strengthening Project for Georgia’ aims to provide reliable power transmission to the southwest part of the grid, environmentally and socially sustainable electricity sector planning and upgrade electricity exchange systems. The new transmission line […]