October 11 will be opened Faravani hydroelectric station. The opening ceremony will be attended by the Prime Minister of Georgia Irakli Garibashvili, Ministry of Energy Kakha Kaladze and the Minister of Energy and Natural Resources of Turkey Taner Ildizi. The Euro Bank is the main financer of renewed energy of the country. The bank is represented by the director in Caucasus, Moldova and Belarus regions - Bruno Balvanera, reports GHN.
The end of the construction of hydroelectric station is important stage for the country because it will increase energy supply, energy independency and export of energy recourses.
Unit capacity is 85 MW and it is built on Faravani River in Samtskhe-Kavakheti region, near the border of Turkey. The project will play important role in producing free carbon energy.
With the statement of Bruno Balvanera "the bank is proud that with the involvement of the bank there is supported development of renewed energy and this effort already has result. This object can be a landmark project because it is the first large scale initiative implemented in private sector of Georgia. Besides it has large scale importance because both neighbor countries will have benefits from."
Euro Bank approved 52 million dollar credit for the financing of this hydroelectric station. International Financing Corporation spent 40.5 million dollars and additional 23 million was invested by commercial banks. The object was built by the company "Anadolu Group". It connects Georgian electric system to Akhaltsikhe sub-stations that was also financed by Euro Bank.