Turkish EMCT to build hydro power plant in Georgia
TBILISI. Aug 29 (Interfax) - Turkish company EMCT Pazarlama Insaat Taahhut Ticaret Ltd will build a hydro power station on the Gubazeuli River in the Guria region in west Georgia, the Georgian Energy Ministry told Interfax on Friday.
A memorandum on construction of the Gubazeuli-6 power plant with capacity of 3.1 megawatts, which is in the list of planned small and mid-sized hydro power plants as part of the government Renewable Energy program, was signed Friday by Energy Minister Alexander Khetaguri and an EMCT representative Ekber Topal.
The project will cost $4.5 million.
Construction is due to be completed in December 2013 and the plant will be launched in January 2014, according to the memorandum.
The Renewable Energy program was approved by the Georgian government in April 2008 and it envisages construction of 76 small and mid-sized hydro power plants with total capacity of 1,382 megawatts. Memorandums have already been signed with investors for the construction of 19 hydro power plants with combined capacity of 483 megawatts.
The investors will obtain the rights to operate and manage the facility. Ten years after the launch of the plant all electricity produced during the winter period must be sold only on the domestic Georgian market and the owner is free to choose its buyers for the rest of the year.
Georgia hopes to raise $1.7 billion for hydro power plant construction in 2011.
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