Sunday 17 May 2015

Georgia signs deal for first wind farm

Georgia is preparing to build the nation’s first wind farm as it signed an initial agreement with a London-based bank.

The Government of Georgia and the European Bank for Reconstruction and Development (EBRD) signed a letter to work together on the project.

The EBRD is considering providing up to $25 million (£16m) for the wind power plant in Gori, a city in eastern Georgia. The wind farm will have a capacity of 20MW and is expected to generated 85GWh.

The total estimated cost of the project is $35 million (£22m).

Kakha Kaladze, Georgia’s Deputy Prime Minister and Minister of Energy said: “The Gori WPP will support the government’s strategy to foster low carbon generation and cover the country’s seasonal demand in the winter period.”

The EBRD has invested more than €2.6 million (£1.9m) in Georgia’s economy – 20% of which has been in energy.