The Georgian Government Administration announced on Tuesday that Adjar Energy, Turkish-based Exim Holding’s subsidiary, will partner with the Georgian government and invest $460 million to develop five wind farms and one solar power plant.
The project is predicted to begin this year gradually in multiple phases, and aims to achieve a total installed capacity of 360 MW, which will enhance Georgia’s renewable energy sector and its standing on the global market.
After the meeting between Prime Minister Irakli Kobakhidze and company executives, officials emphasized the encouraging investment environment in Georgia, which continues to attract foreign investors.
Adjar Energy has so far invested over $200 million in Georgia, constructing two hydroelectric power projects.
