A part of a larger project that will finance construction of a new substation in Jvari, and 68km of transmission lines from the existing Kavkasioni line to Jvari and Khorga, the sovereign loan seeks to facilitate increased trade in regional electricity and development of renewable sources of energy.
Specifically, the project will establish a vital transmission link between Enghuri, and the main regions of consumption in the central and eastern parts of the country.
EBRD Power and Energy team senior banker Philip Lam said Georgia has significant potential for further development in energy sector.
”Promoting these objectives requires a robust and reliable transmission network, which this project aims to address,” Lam added.
The project follows the successful implementation of the 315km Black Sea transmission line, which was jointly financed by the EBRD, European Investment Bank and KfW in 2010.
EBRD has to date invested a total of €1.8bn for 158 projects in various sectors of the Georgian economy, of which €250m alone are assigned to the power sector.
