Nenskra Hydro Power Plant Construction Gets a Boost

Partnership Fund Executive Director, Davit Saganelidze, held a meeting with Korean K -Water Corporation representatives at the Fund office to discuss the ongoing Nenskra HPP construction project.  K-Water executives thanked the Georgian government and the Partnership Fund management for effective support of the project. It was decided to speed up the process of construction.

The visit of the K-Water Vice President to Georgia followed the visit of Partnership Fund’s Executive Director to the city of Daejeon, South Korea, to the headquarters of the K-Water company, where during the meeting with K-Water President Hak-Soo Lee, the parties discussed further steps of cooperation for the large investment project.     

The Partnership Fund is constructing the 280 megawatt Nenskra HPP, together with K-Water, in Svaneti, on the Enguri River tributary, with a potential annual generation of an expected 1,200.00 GWh.

Nenskra Hydro Power Plant station is to start electricity generation from 2019, while the project is to be finalized in 2021. The overall project cost is $1billion, the construction works are being carried out by the tender-winning Italian Salini Impregilo, together with the Georgian contractor construction consortium GCC.  

EBRD, ADB and KDB are providing bank loans for the realization of the project.

While on a visit to South Korea, Saganelidze attended the International Water Conference which was organized by the Asian Water Council in the city of Jeonju. The conference was led by the K-Water President Hak-Soo Lee. The conference: “Asian Solutions for Water” was attended by business and public sector representatives from various countries and focused on sharing best practices and future plans on water resource usage. Saganelidze also visited the K-Water’s integrated water resource management center.

South Korean Water Resource Corporation K-Water holds assets of $20 million, its yearly turnover amounts to $1.7 billion.

The corporation was founded in 1967, and for 50 years it has managed national water resources, providing water to the largest part of the country. K-Water owns dams, water supply systems and buildings. Apart from South Korea, the corporation realizes international projects in numerous countries.