Georgia’s largest hydropower facility, Enguri HPP, and its subsidiary Vardnili HPPs Cascade generated GEL 93.7 million in revenue in 2025, up by 33.8% year-on-year. The group supplied 1.76 billion kWh of electricity to occupied Abkhazia, accounting for 44% of its total generation. The market value of this electricity was GEL 76.7 million, representing revenue the company did not receive.
Enguri HPP generated 4.036 billion kWh in total in 2025. Of this, 1.762 billion kWh was supplied to Abkhazia, 1.932 billion kWh was sold on the Georgian market, and 342.6 million kWh was exported. The market value of electricity supplied to Abkhazia increased 35.8% from GEL 56.5 million in 2024.
Revenue from domestic electricity sales rose 68.6% to GEL 81.7 million, while export revenue fell 45.4% to GEL 11.7 million. The group’s total gross profit increased 57.7% to GEL 48.7 million, while operating profit nearly doubled to GEL 30.4 million. The cost of electricity sold rose 14.9% to GEL 45 million, including higher salary, depreciation and bonus expenses.
Engurhesi has five hydro units with a combined installed capacity of 1,300 MW, while the Vardnili cascade has 340 MW of capacity. The group includes Vardnili HPPs Cascade, Enguri Attraction and a 50%-owned pumped-storage hydropower project, which is still under construction. Engurhesi also operates the 1.11 billion-cubic-meter Jvari Reservoir and a 271.5-meter-high arch dam.
