A $52m loan has also been approved by the European Bank for Reconstruction and Development (EBRD) to support financing of the project, which is expected to significantly improve the country’s energy supply and energy independence.
The 85MW plant will also play a key role in the country’s non-carbon energy mix in the future.
It is located between the settlements of Ahalkalaki and Khertvisi, about 30km to 40km from the Turkish-Georgian border in the southeast of Ahaltsikhe in Georgia.
EBRD director for the Caucasus, Moldova & Belarus Bruno Balvanera said: "The EBRD is proud to see its efforts of supporting the development of renewable energy in Georgia bearing fruit. This power plant is a landmark project as the first private, large-scale renewable power generation project in Georgia which will also have a cross-border dimension."
Approximately $40.5m has also been raised from the International Finance and another $23m from commercial banks.
Built by Turkey’s Anadolu Group, the power plant connects the Georgian electricity system though a 220kV line to the Akhaltsikhe substation, which has also been financed by the EBRD.
