News & Media

Partnership Fund and IFC signed an agreement

Posted on: 21 Mar 2014

With the objective to introduce private sector participation in the development of the Nenskra Hydro Power Plant (HPP) project, Partnership Fund has signed an agreement with International Finance Corporation (IFC), a leading advisor in the field of infrastructure public-private partnerships.

IFC will provide advice to the Partnership Fund in structuring a viable public-private partnership project, developing financial and contract documents and negotiating with the selected investors.

"We want that all the large infrastructure projects which we carry out together with the private investors meet the international standards. So, for this purpose we contacted IFC and hired it toevaluate investor proposals for the Nenskra project as well as prepare legal, commercial and financial aspects of the agreements,” Irakli Kovzanadze, CEO of the PF said.

210 MW Nenskra HPP will be constructed on the river Nenskra in Upper Svaneti region. The HPP will produce 1.3 bln KW electricity per hour annually. Estimated at $ 570 m, the project will be completed within 5 years.