JSC Nenskra Hydro and Ministry of Economy of Georgia Sign Memorandum

Within the scope of the official visit of Mr. Hak Soo Lee, the Chief Executive Officer of Korea Water Resources Corporation (K-water), the Investor Company of Nenskra Hydropower Plant Project, a memorandum of collaboration was signed between JSC Nenskra Hydro and the Ministry of Economy and Sustainable Development of Georgia, on January 28.

The memorandum was signed by the Minister of Economy and Sustainable Development of Georgia, Giorgi Kobulia, and the Chief Executive Officer of JSC Nenskra Hydro, Sunyoung Kim.

“At the meeting with the Minister, we discussed aspects regarding our ongoing and further collaboration within the scope of the Nenskra Hydropower Plant Project. Our close partnership with the Government of Georgia and the local Self-government will continue, aiming at ameliorating the life conditions of the local population and developing the region. This will be the main guarantee for the success of the project,” stated Mr. Hak Soo Lee.

Korea Water Resources Corporation (K-water) is a state-owned company that was founded in 1967. The company implemented 67 projects of high complexity in 24 countries. Currently the company manages 16 multipurpose dams. 

JSC Nenksra Hydro, the Nenskra HPP Project Company, was established in 2015 as a result of cooperation between K-water and JSC Partnership Fund. The company aims to construct the Nenskra Hydropower Plant in the Nenskra and Nakra river Valleys in Mestia Municipality. The 280 MW Nenskra Hydropower Plant will generate approximately 1’200.00 GWh of electricity annually, which will be fully consumed by the Georgian market.