This project provides financing under a risk-sharing facility with TBC Bank for the development, construction and operation of Nakra, Khelra, and Ipari hydropower plants in the Svaneti region of Georgia.
Aquahydro Ltd is a special purpose vehicle established for the purpose of constructing and operating the three small HPPs. Aquahydro Ltd is currently 100 per cent owned by Aqua Energy LLC (Georgia). Construction Company Black Sea Group (Georgia) is expected to become up to 40 per cent shareholders for the project.
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 email@example.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.