GC FUND

  • Industry

    Energy and Infrastructure

  • Status

    Ongoing

  • Total Investment Size

    US$ 329.8 M

  • Website

    www.gcfund.ge

Oni Cascade of HPPs

The Oni cascade of hydropower plants is a greenfield run-of-the-river project consisting of two hydropower plants on the Rioni river in north-western Georgia with a total installed capacity of 177.2 MW and an expected annual generation of 788.6 GWh.  The project’s annual output comprises 6.2% of total electricity consumption in Georgia. 

The total investment required for the project is expected to be US$329.8M (including the cost of financing).

The project is developed based on a build, own and operate (BOO) structure. Feasibility study phase has been completed and the project is transitioning to construction phase with planned commissioning power generation planned to commence in Q4 2021.

GCF owns a 45% equity stake in the project, while the other 55% is owned by Georgian construction company Peri ltd.