Georgia Capital to acquire 100% stakes in Qartli Wind Farm
Date
November 27, 2019
Type
M&A Transactions
Subtype
Transaction completed
Countries
Georgia
Subsectors
Onshore Wind
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Georgia Capital has participated in a public auction for a 100% equity stake in Qartli Wind Farm LLC owned by Georgian Energy Development Fund and Georgian Oil and Gas Corporation.
The wind farm is being developed in Shida, Qartli region of Georgia, on the territory of Gori and Kareli municipalities, adjacent to Gori TV tower, with an installed capacity of 20.7 MW and annually generated electricity of 85 GW.
Georgia Capital will pay US$14.4 million for a 100% equity interest. The gross debt of Qartli Wind Farm is US$17.4 million. The wind farm sells its generated energy under a 10-year power purchase agreement (PPA) with the Georgian government at US$65 per MWh.
