Through this Early Disclosure, IFC provides access, early in the environmental and social assessment process, to this draft Environmental and Social Impact Assessment (ESIA). This ESIA has been prepared by the client and should not be taken as an indication that IFC has completed its review of the potential investment. The purpose of this Early Disclosure is to enhance the transparency of IFC’s activities with reference to those projects or investments with potential significant adverse environmental and social risks and/or impacts. Any project documentation or data included or attached herein has been prepared and authorized for public release by the client.
The disclosure of this ESIA should not be construed as presuming the outcome of IFC’s review of the potential investment or the decision of its Board of Directors. An updated version of the ESIA reviewed by IFC may be disclosed at a later stage. In addition, prior to any consideration of the investment by IFC’s Board of Directors, the Summary of Investment Information (SII) and the Environmental and Social Review Summary (ESRS) would be disclosed at least 60 days in advance.
Georgia CEI HPP
Adjaristsqali Georgia LLC
Project Business Sector
Large Hydro Renewable Energy Generation
Provisional Environment and Social Category
Europe and Central Asia
Description of the Project:
The project consists of financing the 185 MW hydro power plant in Adjaritskali, southwest Georgia (the “Project”), co-developed by Clean Energy Invest (“CEI”) and IFC InfraVentures. The Project, called Shuakevi Scheme, is a part of a cascade of 3 run-of-river HPPs (Shuakhevi 185MW, Koromkheti 150MW, and Khertvisi 65MW) in the Adjiaristsqali region. The Project (or Shuakevi Scheme) is comprised of two dams with reservoirs and one weir on the Adjaristsqali, Skhalta and Chirukhistsqali Rivers respectively.
The Project is expected to generate 483 GWh power per year, to export to Turkey through the cross-border transmission line in 9 months of the year, and to sell domestically in 3 consecutive winter months, when Georgia is energy deficient. The proposed investment is an A loan of up to US$70 million, a B loan of up to US$180 million and a straight equity of up to US$25 million. Total project size is expected to be US$356 million, where CEI (owned by Norsk Mineral), Tata Power and IFC will contribute with US$110 million equity (40%, 40% and 20%, respectively). The project company (Adjaristsqali Georgia LLC) will develop the Project.
An Environmental and Social Impact Assessment was prepared by Mott MacDonald for Clean Energy Group covering the entire cascade of 3 HPPs. IFC is considering to invest in the first HPP (Shuakhevi 185 MW) of the three HPPs.