Owners

Clean Energy Invest AS (CEI) is owned by the management team and Norsk Mineral AS, a Norwegian family owned industrial group. In 2011, CEI partnered up with IFC Infraventures (IFC), part of the World Bank Group. In 2013, Tata Power, India’s largest integrated power company, joined to develop the hydro potential on the Adjaristsqali River and its tributaries in Adjara, Georgia.  CEI and Tata Power own 40% of each project, while IFC holds the remaining 20%.

Suppliers

The project company Adjaristsqali Georgia LLC (AGL) is the Employer. Mott MacDonald as the Engineer, Age Inşaat of Turkey as the Civil Works Contractor and GE-Alstom as the Electro-Mechanical Contractor.

 

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Lenders

The 417 MUSD Phase 1 project is debt financed by International Finance Organization (IFC), European Bank for Restructuring and Development (EBRD) and Asian Development Bank (ADB).

 

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King & Spalding is the equity investors counsel, while Clifford Chance is the lenders legal counsel.

 

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