Tata Power commences commercial production in Georgia

Adjaristsqali Georgia LLC (AGL), a joint venture between Tata Power, Norway’s Clean Energy Invest (CEI) and International Financial Corporation (IFC) has commenced the commercial operation of 178 mw Shuakhevi Hydro Power Project (Shuakhevi HPP) located in southwest Georgia. Further, AGL will be soon commissioning 9 mw Skhalta Hydro Power Project, which is also a component of the overall Shuakhevi Project scheme.

Shuakhevi HPP is the only project in Georgia’s energy sector, which has been funded by three of the largest financial institutes such as European Bank of Reconstruction and Development (EBRD), Asian Development Bank (ADB) and IFC, a member of the World Bank Group.

The project will generate around 450 GWh of clean energy to reduce the emission of greenhouse gases by more than 200,000 tonnes a year. The successful completion and start of commercial operations is considered crucial for the integrity, security and energy independence of Georgia. The power generated by the project will be exclusively sold within Georgia throughout the winter, which is a period of energy deficit.

Adjaristsqali Georgia LLC, a joint venture between Tata Power, Norway’s Clean Energy Invest and International Financial Corporation (IFC), a part of the World Bank Group. The overall project cost is approximated to be US$ 500 million.

Tata Power has an installed hydro power capacity of approximately 500 mw with three plants in Maharashtra, which generates power for the domestic market. Tata Power also established India's first hydroelectric power generating station of 40 mw at Khopoli in Maharashtra.

On Monday, the stock of Tata Power opened at Rs 34.20. During the day, it slipped 3.9 per cent to Rs 32.60. Later, it got closed at Rs 32.35.