Tata Power, India's largest integrated Power Company has completed financial closure for its 187 MW Adjaristsqali hydro project in Georgia. The project is being financed by IFC, ABD and EBRD.
This landmark project will help Georgia to tap its hydro power potential. IFC, along with ADB and EBRD, has arranged the largest-ever private hydro power investment in Georgia of $400 million through project financing.
Adjaristsqali Georgia is a joint venture between India's Tata Power and Norway's Clean Energy Invest (40 percent each), and IFC (20 percent).
This project will help Georgia achieve energy self- sufficiency. The three lenders are providing a total of $250 million of long term project financing for the project.
Tata Power is India's largest integrated power company with a significant international presence.
The Company has an installed generation capacity of 8621 MW in India and a presence in all the segments of the power sector viz. Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.
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