April 8 (Renewables Now) - The renewable energy business of diversified group Georgia Capital PLC has commissioned the 30-MW first phase of the Mestiachala run-of-the-river hydropower plant in Georgia’s Svaneti region.
Irakli Gilauri, chairman and CEO of Georgia Capital, noted that the commissioning has been achieved on time and within budget. The group is also on track to launch the 20-MW second phase of the project in June 2019. An official opening of the Mestiachala HPP is planned for June 28, 2019.
Upon completion, the plant will be producing around 171 GWh of electricity per year. The cost of building the facility is estimated at USD 1.2 million (EUR 1.1m) per MW, and 70% of the total amount has been financed through debt facilities from local and international financial institutions.
Gilauri added that the business is also on track to reach its targeted 500 MW of operating capacity in the medium term.
(USD 1.0 = EUR 0.890)