Georgia to build largest solar power plant with European financing

The European Bank for Reconstruction and Development (EBRD) has announced its board's approval of a loan for ITEC LLC to construct a solar power plant (SPP) in Marneuli.

The ITEC project plans to build Georgia's largest SPP with a capacity of 73 MW. The total project cost is estimated at $35 million, with the EBRD providing $25.5 million in financing, covering 73% of the costs.

"The project will establish the country's largest industrial-scale solar power plant, marking a significant step in expanding Georgia's renewable energy sources",

the EBRD reported.

The EBRD expects the Marneuli SPP to diversify Georgia's energy sources and increase the country's green energy production, which is currently generated solely by hydroelectric power plants.

Furthermore, the EBRD estimates that the Marneuli SPP will reduce Georgia's CO2 emissions by 21,000 tons per year.