As part of the collaboration, the EBRD has invested $5m in GUE, which will manage the construction of a 85MW Paravani hydropower plant in the south west of the country.
The investment enables the company to complete the construction of the hydropower plant.
Upon completion, the facility will be connected to both Georgian and Turkish grids through a converter substation located in Akhaltsikhe, Georgia.
The substation is part of the EBRD-funded Black Sea High Voltage Transmission Line project, which connects the Georgian and Turkish electricity networks.
EBRD Turkey, Eastern Europe, the Caucasus and Central Asia managing director Olivier Descamps said the project supports Georgia’s efforts to sustain greener power policies and tap into its renewable energy resources.
GUE is a subsidiary of the Turkish Anadolu Group.
