Shuakhevi HPP

The EBRD is considering extending a senior loan to Adjaristsqali Georgia LLC (the “Borrower”) of up to USD 86.5 million (EUR 63.7 million) for the financing of the development, construction and operation of Shuakhevi HPP, a hydroelectric power plant to be located on the Adjaristsqali river in south-western Georgia (the “Project”). Shuakhevi HPP will have an installed capacity of 185 MW with expected electricity output of 452 GWh. The plant is designed as a run-of-the-river plant with capacity for diurnal storage in two reservoirs, allowing Shuakhevi HPP to store water for up to 12 hours and sell electricity at peak demand times.