GCF is the sole owner of Mtkvari HPP, a hydropower plant located on the Mtkvari River in southeast Georgia, with a designed capacity of 53.0 MW and expected annual energy generation of 251.5 GWh.
Mtkvari HPP’s total designed capacity is 53.0 MW and its expected annual energy generation is 251.5 GWh. The project’s expected annual generation equals 1.9% of Georgia’s total electricity consumption in 2019 (13.4TWh in 2019). In February 2020, Georgian Co-Investment Fund’s project Mtkvari HPP has completed excavation of the longest and widest tunnel in Georgia that was excavated with Hard Rock Double Shield TBM, the length of the tunnel is 9.6km, while the diameter is 6 meters. The tunnel excavation was one of the most important stages of the construction process and its completion will allow the company to commence the final stage of HPP’s construction.
The project has been planned on a build, own and operate (BOO) structure and is currently in the construction phase with power generation planned to commence in 2021.