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Publish Date : 18-May-2015

Georgia and EBRD have come to a deal on USD 25 million credit to fund construction of nation's first wind power plant in Gori, town in the Shida Kartli area. The aggregate evaluated expense of the planned wind ranch, developed by the state-claimed Georgian Energy Development Fund, is USD 35 million. Installed limit of the wind ranch will be 20 megawatt.

Introductory deal was inked on May 14 on the sideline of EBRD's Annual Meeting and Business Forum in Tbilisi. As indicated by the Bank, the EBRD's Board of Directors is required to take definite conclusion whether to give USD 25 million loan financing for the venture later this year.

EBRD Managing Director for Energy and Natural Resources, Riccardo Puliti, who inked the first deal with Georgian Energy Minister Kakha Kaladze said, "After investing EUR 312 million in hydropower generation, we are hoping to make another renewable source – wind – attractive for investors."

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