Georgia Capital acquires entire equity stake of Georgian operator Hydrolea

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Georgia Capital PLC has announced the acquisition of a 100% equity stake in Hydrolea LTD through its wholly-owned subsidiary.

Hydrolea operates three Hydro Power Plants (HPP) with an aggregate 21 MW installed capacity, and has a greenfield HPP project with a 19 MW targeted installed capacity. All Hydrolea HPPs have high capacity factors - averaging 54% - making the investment per annual GWh generation an attractive alternative to a construction option.

The three HPPs are expected to add approximately US$4.1 million to US$ 4.4 million EBITDA in aggregate to the Renewable Energy Business’s income statement in 2020 on the back of c. 105 GWh net annual generation.

The HPPs benefit from guaranteed prices via their Purchase Power Agreements with the Government of Georgia for the next 4-8 years. The PPAs cover 8 months out of 12, while the PPA prices range from 5.54 US$/kWh to 5.66 US$/kWh.

List of the country updates

Country updates

  • November 04, 2019

    MOL agrees to acquire 9.57% stake in ACG Oil Field, 8.9% stake in BTC pipeline

    MOL Group has entered an agreement with Chevron Global Ventures, Ltd and Chevron BTC Pipeline, Ltd for the acquisition of their non-operated E&P and mid-stream interests in Azerbaijan, including a...

    Read more
  • September 30, 2019

    Georgia launches public auction to sell 20.7 MW Qartli wind project

    Georgian Energy Development Fund and Georgian Oil and Gas Corporation announce a public auction for 100% share of Qartli Wind Farm LLC. Qartli Wind Farm LLC owns a total of 20.7 MW of installed Qartl...

    Read more
  • September 02, 2019

    Transgaz, Itochu team up for infrastructure projects in Europe

    Transgaz and the Itochu Corporation of Japan signed an agreement memorandum for collaboration in big projects in the domain of natural gas – the LNG terminal in Alexandroupolis, the Whitestream...

    Read more
  • April 25, 2019

    Phase one of 50 MW hydropower project in Georgia begins operation

    Georgia Capital PLC has commissioned the 30 MW first phase of the planned 50 MW Mestiachala hydropower project in Georgia’s Svaneti region. Official opening of the Mestiachala HPP will be on Jun...

    Read more
  • February 09, 2018

    EIB approves US$150 million loan for the project

Share this update