The Georgian government has designated the Gvakha Hydropower Plant (HPP) project as a public-private partnership (PPP) initiative and instructed the Ministry of Economy and Sustainable Development to proceed accordingly.
Under a decree issued on May 7, the Ministry is tasked with ensuring the signing of an agreement between the government and the project developer, Akavreta LLC.
The company will also be responsible for carrying out preparatory works, including feasibility studies, for the Gvakha HPP project in Keda Municipality in line with PPP legislation.
The Business Register shows that Akavreta LLC is owned by Georgian Hydro Power, which is in turn owned by Shamil Birkadze.
The Public-Private Partnership Agency states that the project has an installed capacity of 10 MW and is expected to generate around 63.6 million kWh of electricity annually. The estimated investment volume stands at $18.78 million.
