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Three companies submitted bids for developing the Namakahvani Project. Namely, General Development LTD, Power China Resources LTD and Clean Energy Group Georgia LLC. The evaluation commission examined every document provided by the companies and announced Clean Energy Group Georgia LLC the winner. Currently there is ongoing negotiations with the Government of Georgia for terms and conditions of the perpetual Build Own Operate agreement (BOO), which will be acceptable for international non-recourse financing.

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-Dette er det største vannkraftprosjektet som noen gang er bygget ut av norske interesser utenfor Norge, sier Brandtzæg. Rundt 1,5 milliarder kroner skal hentes fra investorer til Clean Energy Groups andel av prosjektet. Resten av kapitalen kommer fra en tyrkisk partner, samt låneinstitusjoner. Markedet for slike investeringer er brennhett. På verdensbasis satset private aktører i fjor et halvt norsk oljefond i offentlig infrastruktur, ifølge Financial Times.

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Clean Energy Group Georgia LLC has been awarded the right to develop, build, own and operate the 433 MW Namakhvani project. The award is the result of a transparent and competitive tender process, where 26 companies took part. Clean Energy Group Georgia LLC is a subsidiary of Clean Energy Group AS, a Norwegian renewable energy developer, owner and long-term asset operator.

View press release here.