TEPCO Renewable Power, Incorporated (TEPCO RP) has acquired 31.4% of the shares in JSC Dariali Energy, a hydropower company in Georgia, from Peri LLC for the purpose of participating in the 108-MW Dariali Hydropower Project.
TEPCO RP’s share in the project will be 33.9 MW. It is the Japanese company’s second investment in a hydropower project overseas, according to a press release.
The Dariali plant is located on the Tergi River in Kazbegi Municipality and has been operating since commercial operation began in December 2016, supported by a 15-year power purchase agreement with Electricity System Commercial Operator (ESCO), the market operator in Georgia’s electricity sector. Its annual energy generation amounts to 510 million kWh, which accounts for about 4% of Georgia’s annual electricity consumption.
Dariali is the first carbon-neutral project in Georgia and among all European Bank for Reconstruction and Development-financed projects worldwide. JSC Dariali Energy received the Silver Award for “Environmental and Social Best Practice” from EBRD.
TEPCO RP plans to dispatch executives and staff to JSC Dariali Energy so that it can leverage its know-how and experience in operation and maintenance. The company will contribute to strengthening the operational capabilities at the Dariali project in areas such as O&M optimization.
Peri LLC is one a large construction companies in Georgia. It has significant experience in developing large-scale infrastructure projects, including hydropower plants. It owns and operates six hydropower plants with a total installed capacity of 150 MW in Georgia and has a pipeline of projects totaling 300 MW.
TEPCO RP says it will continue exploring opportunities to participate in other overseas hydropower projects and offshore wind power projects in Japan and overseas.