Georgia-Urban Energy is the Georgian subsidiary of the Turkish group Anadolu Endustri Holding.
The EBRD will provide $52m of the total financing, with $40.5m coming from the IFC and a further $23m syndicated through commercial banks and will also acquire a $5m equity stake in Georgian-Urban Energy.
The development of Georgia’s large hydro resources will help the nation to reduce carbon-based generation and also cut dependence on imported fuels in winter months.
