Financing of US$60 million has been approved by the World Bank's board of directors for a project to strengthen the transmission grid in Georgia and make the most of the country's hydropower assets.
The funding - from the International Bank for Reconstruction and Development (IBRD) - will be used for a project to provide reliable power transmission to the southwestern part of the grid, upgrade electricity exchange systems, and provide economically efficient, environmentally and socially sustainable electricity sector planning. It will also support proposed investments in the Adjaristsqali River Hydropower development.
“The Georgian economy needs affordable, reliable, and clean sources of power. Georgia is endowed with untapped hydropower potential, which is comparable to that of the leading hydropower producing countries in the world. The project will enable more secure and reliable supply of power to Georgia and Adjara region in particular," said Joseph Melitauri, World Bank Team Leader for the Transmission Grid Strengthening Project.
The new transmission line envisaged by the project will connect the planned Adjaristsqali River plants to the grid. The southwestern part of Georgia, Adjara region, and Batumi area will have fewer power outages and thus more secure supply of electricity, the World Bank said in a statement.
