Tata Power signed the Shareholders Agreement for acquiring 40% stake in Adjaristsqali hydro projects on 09th May 2013 and the transaction completed on 17th June 2013.
Projects are being developed on build, own and operate (BOO) basis.
As per the BOO the Company has the license to develop and operate up to four (399.9 MW in total) hydroelectric plants on Adjaristsqali river.
Power Sale: 85% to Turkish electricity market and remaining 15% within Georgia.
The Project is proposed to be developed in three phases, namely:
Phase-I: Shuakhevi (185 MW)
Phase-II: Koromkheti (150 MW)
Phase-III: Khertvisi (65 MW)
Clean Invest AS is co-owned by Clean Energy Group AS (“CEG”) and Norsk Mineral AS (“Norsk Mineral”). CEG is a Norway based company comprising professionals and entrepreneurs, comprising ex-employees from Statkraft, SN Power, E-CO, Poyry Management Consultancy.
Norsk Mineral, is a Norwegian industrial group with interests in minerals, energy, technology and property. Norsk Mineral is owned by Steinsvik family, who had established the business in 1948.
IFC InfraVentures is a fund created by International Finance Corporation in 2008 to support and proactively develop private and public-private partnership infrastructure projects in the developing countries.
Didachara Dam and reservoir Site