UK Company Geopower to Build Dzegvi HPP in Georgia

A UK investment company Geopower is to invest USD 24 million to build a new Hydro Power Plant (HPP) on the Mtkvari River in Dzegvi village, Georgia’s Mtskheta-Mtianeti region.

The Government of Georgia approved the draft Memorandum of Understanding (MoU) that will be signed between the Georgia’s Energy Ministry and Geopower, a company which finances and operates energy projects around the world.

After signing the MoU, Geopower will have the right to start technical and economic feasibility studies within 12 months. The company should prepare a report about the HPP’s impact on the environment, conduct public discussions and present the results to the Government. If approved, the contract to build the Dzegvi HPP will be signed.

Geopower must obtain a construction permit within three months of signing the contract, and build the power plant and make it operational 30 months after receiving the construction permit.

Total installed capacity of the Dzegvi HPP is expected to be 15.7 MW, according to Georgia’s Ministry of Energy.

For the first 15 years of operation, electricity generated at the HPP between September and April will be supplied only to Georgia. However, Geopower will be allowed to export the electricity generated in other months.

Ana Akhalaia