The European Bank for Reconstruction and Development (EBRD) will provide 28 million Euros for the rehabilitation of the Enguri Hydro Power Plant, according to an agreement between Georgia and the EBRD. The agreement was signed by Minister of Finance Mamuka Bakhtadze and the EBRD Regional Director for the Caucasus, Moldova and Belarus, Bruno Balvanera.
"The signed document implies the allocation of a loan amounting to € 28 million for he rehabilitation of the Enguri Hydroelectric Power Plant. The European Union has also approved a 7 million euro grant for the rehabilitation of the Enguri hydroelectric power plant.
We had a record activity in Georgia last year. A volume of 300 million US dollars in investments was recorded, 50 million more than the last year. It is important that the bank participated in funding more than 20 projects. We are very pleased to be involved in the development of the Georgian economy,” EBRD regional head Balvanera said.
The Enguri Hydro Power Plant is the largest HPP in the Caucasus region. The station is composed of the Enguri hydroelectric power plant with an installed capacity of 1,320 MW, Perepad HES-1 (power 220 MW), and three 40 MW plants.
The dam has a total volume of water of 1 cubic kilometer, i.e. 1 billion tons. The length of the reservoir is 30 km. The height of the dam is 271 meters high and the length is 728 meters long. The price of electricity generated by Enguri is 1.8 tetri per kilowatt hour.