IFLR1000

Nenskra 280MW hydroelectric power plant

31/8/2019
Project development, Project finance
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$ 1 billion

Announced

31/8/2019

Overview:

  • Nenskra 280MW hydroelectric power plant.
  • The dam is being constructed on the Nenskra river in Upper Svaneti in Georgia.
  • The project is being developed by JSC Nenskra Hydro, a joint venture between Partnership Fund of Georgia and the Korea Water Resources Corporation (K-Water).
  • The key projects agreements were signed on August 31 2015.
  • The financing is being provided in part by the European Bank for Reconstruction and Development (EBRD), the Asian Development Bank (ADB) and Export-Import Bank of Korea (Korea Eximbank).
  • According to Allen & Overy the project is believed to be the first Georgian hydropower project to be financed on a non-or limited-recourse basis.

Sam Duke - Editor

Jurisdiction:

Georgia

Deal types:

Project development
Project finance

Practice areas:

Banking
Project development

Governing laws:

Georgia
England and Wales

Industry sector:

Energy

Firms:
A&O Shearman

Party: Korea Water Resources Corporation (Sponsor)

Lawyer: Dan Cocker (retired)

Begiashvili & Co

Party: European Bank for Reconstruction and Development (EBRD) (Lender)

Party: European Investment Bank - EIB (Lender)

Party: SACE - Servizi Assicurativi del Commercio Estero (Lender)

Party: Asian Development Bank (Lender)

Party: Asian Infrastructure Investment Bank (Lender)

Party: Korean Development Bank (Lender)

Lawyer: Giorgi Begiashvili

BGI Legal

Party: Korea Water Resources Corporation (Sponsor)

Lawyers: Lasha Gogiberidze, Sandro Bibilashvili

Clifford Chance

Party: European Bank for Reconstruction and Development (EBRD) (Lender)

Party: European Investment Bank - EIB (Lender)

Party: SACE - Servizi Assicurativi del Commercio Estero (Lender)

Party: Asian Development Bank (Lender)

Party: Asian Infrastructure Investment Bank (Lender)

Party: Korean Development Bank (Lender)

Hunton Andrews Kurth

Party: International Finance Corporation (IFC) (Financial adviser)

Party: Government of Georgia (Grantor)

Lawyer: Ryan Ketchum

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