JSC Nenskra Hydro Signs Memorandum with Ministry of Economy of Georgia

On January 28, a Memorandum of Cooperation was signed between JSC Nenskra Hydro and the Ministry of Economy and Sustainable Development of Georgia. The signing of the Memorandum was part of the official visit of Mr. Hak Soo Lee, Chief Executive Officer of Korea Water Resources Corporation, the Nenskra Hydropower Plant (HPP) Project investor company.  

The Memorandum was signed by George Kobulia, Minister of Economy and Sustainable Development, and Sunyoung Kim, Chief Executive Officer of JSC Nenskra Hydro.

“During our meeting with the Minister, we discussed the issues of current and future cooperation within the framework of the Nenskra HPP project,” said Mr. Hak Soo Lee. “We intend to continue our close cooperation with the Government of Georgia and local self-government with the purpose of developing the region and the well-being of the local community. This will remain the most significant guarantee of  the project success.”

Founded in 1967, Korea Water Resources Corporation K-Water is a state-owned company. K-Water has implemented 67 high complexity projects in 24 countries. Presently, K-water is managing 16 multi- functional dams.

Nenskra Hydro is a project-based company established in 2015 as a result of cooperation between Korea Water Resources Corporation K-water and JSC Partnership Fund. The company will construct the Nenskra Hydropower Plant in the Nenskra and Nakra River Valleys in Mestia Municipality of the Samegrelo-Zemo Svaneti region. 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.