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India’s Tata Group to invest in 400MW hydropower project in Georgia

Indian conglomerate company to invest $600m for hydroelectric power plant in Black Sea country

The Georgian hydropower project is expected to cost more than USD 600m and have a capacity totalling 400MW

India’s Tata Group looks to invest in a 400MW hydroelectric power project in Georgia, according to reports. The news comes after meetings with the Black Sea country’s billionaire Prime Minister Bidzina Ivanishvili, including in Davos, Switzerland.

“Tata expressed its interest and wish to invest here after a meeting with the prime minister in Davos and a prior visit to Georgia,” Mariam Valishvili, Georgia’s deputy energy and natural resources minister, said, Bloomberg reports.

Tata management also met Ivanishvili this week to explore the hydropower project and possible opportunities in Georgia, the company said.
 
The International Finance Corp. and Oslo-based Clean Energy Invest agreed in 2011 to help build the Adjaristskali plant, planned for the mountainous region of Adjara, Valishvili said. The project will probably cost more than USD 600m and have a capacity of as much as 400MW, she said.

Prior to Ivanishvili’s win in October elections, the previous government of President Mikheil Saakashvili had signed 42 preliminary deals for hydropower projects. Companies that agreed to join power-plant projects include Turkey’s Kolin Construction, a joint venture between Ohio-based Robbins Co. and Georgian construction firm Peri. Tourism Industry and Trading Co. Inc. and Russia’s OAO Inter RAO UES.