Kheledula HPP (EBRD-49642)

Countries
  • Georgia
Where the impacts of the investment may be experienced.
Specific Location
Racha-Lechkhumi and Kvemo Svaneti regions
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 28, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Kheledula Energy LLC
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Energy
  • Hydropower
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 88.70 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 12, 2018

Disclosed by Bank Sep 25, 2018


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Project Description

This project provides financing to Kheledula Energy LLC for the development and construction of a 51MW run-of-river hydropower plant on the Kheledula River located in the Racha-Lechkhumi and Kvemo Svaneti regions of Georgia

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

Kheledula LLC is a special purpose vehicle established in Georgia to develop, construct and operate the Project. Kheledula LLC is majority owned and controlled by AG Anadolu Grubu Holding A.S. The Anadolu Group is a large Turkish conglomerate, partially listed on the Istanbul Stock Exchange.

Contact Information

Onur Tosunoglu
onur.tosunoglu@gue.ge
+995 322251183
Chavcavadze Avenue 37/D 0162 Tbilisi, Georgia

ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.