The European Bank for Reconstruction and Development (EBRD) has announced plans to invest in the Georgia Urban Energy LLC (GUE) to complete an 85 megawatt hydropower plant in Georgia, which will supply both Georgia and Turkey with electricity and help reduce greenhouse gas (GHG) emissions.
21 September 2011: The European Bank for Reconstruction and Development (EBRD) has announced plans to invest US$5 million in the Georgia Urban Energy LLC (GUE), a subsidy of the Turkish Anadolu Group, to complete an 85 megawatt hydropower plant in Georgia.
After completion of the plant, the carbon-free energy will supply both Georgia and Turkey with electricity and help reduce greenhouse gas (GHG) emissions. It will be connected to both national grids via a converter substation located in Akhaltsikhe, Georgia, which is part of the EBRD-funded Black Sea High Voltage Transmission Line project. [EBRD Press Release]