"Dariali HPP", located on the River Tergi, is one of the most powerful hydroelectric power stations in Georgia, which can generate 108 megawatts.
The project was implemented by the Georgian energy company Feri, and in 2020, its 31.88% share was acquired by the Japanese corporation TEPCO.
The company published its financial report for 2021. According to it, the station earned GEL 88 million last year, and the net profit was GEL 70.7 million.
According to the report, HPP's assets amounted to GEL 7 million; while land and property tax - GEL 2.4 million; salaries - GEL 1.9 million, other operating expenses amounted to GEL 2.6 million.
In addition, the company had financial expenses of GEL 12.5 million, and the company received a profit of GEL 10.7 million due to the exchange rate difference. Considering these indicators, the net profit of Dariali HPP in 2021 amounted to GEL 70.7 million.
As of the financial report, the hydroelectric plant has a guaranteed power purchase agreement (PPA) with ESCOs, the tariff of which was increased last year.
"The memorandum signed between the company and the state on May 19, 2011 was amended, according to which the electricity tariff was changed and it became 5.7 US cents instead of 5 US cents," the report states.
Late in 2021, the assets of the HPP amounted to GEL 268 million and the liabilities - GEL 139 million.
The list of shareholders of the company is distributed as follows: LLC "Energia" - 44.27%; TEPCO Renewable power Singapore PTE - 31.38%; Lock W. Home Irrevocable Trust - 24.35%.
