US company Cerberus Frontier will construct a small hydropower plant, Bakhvi 1, in the Guria region of Georgia, Economy Minister Natia Turnava has announced.
“This will be the US company’s fifth project in Georgia”, said Turnava and added that a government meeting discussed and approved the construction of Bakhvi 1 hydropower plant in Guria.
The project details of Bakhvi 1 published by the Ministry of Energy of Georgia read that the installed capacity of Bakhvi 1 is planned to be 12 MW, while the average annual generation should be 78.2 GW/h. Construction cost is $27 million and the construction period is three years.
Turnava said that the interest of the US company in investing in Georgia proved that the investment environment was attractive for foreign investors.
Turnava promises that “we will do our best to move the project from the studying phase to the actual construction phase”. (Agenda/Business World Magazine)