EBRD, EU and TBC Bank join forces to fund Georgian hydro project

20 January 2017


TBC Bank, the European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are to provide US$14.3 million in funding for construction of Rustavi Group’s 17.2MW Lukhuni 2 hydroelectric project in northern Georgia.

The EBRD is supporting the project with a US$5.6 million loan and TBC Bank is contributing US$8.7 million. The EU is backing this transaction through a risk-sharing facility based on a guarantee mechanism that makes it possible to increase the amount of financing beyond the amounts that would be available without a guarantee of this kind.

Lukhuni 2, which will have an expected annual generation of 86.3GWh, will be used to provide electricity to Northern Georgia, as well as export to Turkey. 



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