Georgia, EBRD in Initial Deal on Gori Wind Farm
Georgia and EBRD have reached an initial agreement on USD 25 million loan to finance construction of country’s first wind power plant in Gori, town in the Shida Kartli region.
The total estimated cost of the planned wind farm, developed by the state-owned Georgian Energy Development Fund, is USD 35 million. Installed capacity of the wind farm will be 20 megawatt.
Initial agreement was signed on May 14 on the sideline of EBRD’s Annual Meeting and Business Forum in Tbilisi.
The EBRD’s Board of Directors is expected to take final decision whether to provide USD 25 million loan financing for the project later this year, according to the Bank.
“After investing EUR 312 million in hydropower generation, we are hoping to make another renewable source – wind – attractive for investors,” said EBRD Managing Director for Energy and Natural Resources, Riccardo Puliti, who signed the initial agreement with Georgian Energy Minister Kakha Kaladze.
