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BGEO subsidiary begins construction of Georgian hydro power plant

Staff Writer |
BGEO Group said its utility and energy subsidiary Georgia Global Utilities has begun construction of the Bodorna hydro power plant in Georgia.

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BGEO said the 2.5 megawatt plant, located around 55 kilometres from the capital Tbilisi, will have an average annual electricity production capability of 15.0 million kilowatt/hours and will be primarily used for GGU's internal consumption with excess energy sold to third parties.

Construction will be carried out by local firms and supervised by Swiss engineers Stucky SA. GGU has secured long-term credit totalling GEL10.0 million from German and Dutch development banks to finance construction.

BGEO said it expects the plant to become fully operational by September 2018.

Chief Executive Irakli Gilauri said: "I am pleased to see that GGU has launched the construction of yet another hydro power plant and continues to successfully pursue opportunities by tapping the existing infrastructure of its water utility subsidiary."

"GGU is committed to investing in Georgia's renewable energy resources and this project is another step in the execution of GGU's strategy to produce a pipeline of high quality hydro power plant developments over the medium-term," Gilauri added.


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