Power Grid Enhancement Project (EBRD-51422)

Countries
  • Georgia
Where the impacts of the investment may be experienced.
Specific Location
Tskaltubo, Akjaltsikhe, Tortum, Nesnkra, Mestia, Lajanuri, Guria, Kakheti, Svaneti
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
Dec 11, 2019
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
Georgia Sovereign
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 87.78 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 80
Converted using 2019-10-07 exchange rate.
Project Cost (USD)
$ 230.42 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 210
Converted using 2019-10-07 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 18, 2020

Disclosed by Bank Oct 7, 2019


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to the Bank's website, this project finances reinforcement of the national power grid and enhancement of investment in the national energy sector. This will include: (1) construction of a 500kV overhead line Tskaltubo-Akjaltisikhe-Tortum (2) construction of North Ring (3) reinforcement of the transmission infrastructure in the Guria region (4) reinforcement of the transmission infrastructure in the Kakheti region.

Physical displacement will be caused by the construction of the North Ring (Nenskra to Mestia and Lajanuri to Tskaltubo). Construction will also pass through the Svaneti Important Bird Area causing habitat loss. 

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

The Borrower is Georgia. The loan proceeds will be on-lent to GSE, a state-owned transmission network owner and operator

Private Actors

The Borrower is Georgia. The loan proceeds will be on-lent to GSE, a state-owned transmission network owner and operator.

Contact Information

Ekaterine Verulashvili
info@gse.com.ge
+(99532) 2 510 202
+(99532) 2 98 37 04
http://www.gse.com.ge
2, Baratashvili Street, Tbilisi, Georgia, 0105

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.