A Project Agreement was Signed Between Georgian State Electrosystem and KfW

Today, June 15, a Loan Agreement worth 100 million euros was signed between the Government of Georgia and The German Development Bank (KfW), within which Ucha Uchaneishvili, Chairman of the Management Board of Georgian State Electrosystem, Klaus Weigel, KfW Regional Office Director for South Caucasus and Hans Rick Director, Sector Coordination South Caucasus Energy-Transport signed a project contract.

With the financial support of the German Development Bank large-scale construction and rehabilitation projects of transmission lines and substations will be implemented in Georgia. Full rehabilitation of the power transmission network is planned in Kakheti region, involving grid renovation and reconstruction of substations. Within the framework of the project, the construction of cross-border infrastructure is also planned, which will further strengthen the energy supply of the country and facilitate the export and import.

The project implementation phase will start in 2020 and the completion of works is planned in 2022.