One of the largest Japanese energy companies, TEPCO Renewable Power (TEPCO RP), has acquired 31.4% of the shares of Georgian hydropower company Dariali Energy.
This, the company reports, is its second investment in a hydropower project overseas.
Located in the Kazbegi municipality in the Georgian region of Mtskheta-Mtianeti, the Dariali Hydropower Plant (Dariali HPP) has been “operating stably”.
Dariali HPP is a prominent renewable energy power plant and has been contributing to strengthening energy security and independence in Georgia. It is also the first carbon-neutral project in Georgia and among all EBRD-financed projects worldwide”, TEPCO RP stated.
With an installed capacity of 108 MW and an expected annual electricity output of 510 GWh, the Dariali HPP plays a key role in the development of Georgia’s hydropower resources.
The total project cost was $123 million, including a 23 percent contribution from the state, while an $80 million syndicated loan to JSC Dariali Energy for the development, construction and operation of the HPP was given by the EBRD.