Tata Power, Clean Energy and IFC InfraVentures have started realizing projects in Georgia, press service of Georgian Prime Minister Bidzina Ivanishvili reports.
Tata Group expressed interest in Georgia at a meeting with Ivanishvili in Davos.
Tata Power International Ltd signed a contract with Clean Energy Invest AS (Norway) and IFC InfraVentures to realize hydro projects worth $400 million in Georgia on May 10, 2013.
Realization of the projects will generate 400MW. The first stage of the projects will be concluded in the first half of 2016, resulting in generation of 185MW. Tata Power and Clean Energy own 40% of shares in project, IFC InfraVentures owns 20%.
The power generated will be used in Georgia and exported to other countries, including Turkey, in summer.
