Prime Minister Irakli Kobakhidze stated that, at present, no specific investor has been confirmed for the large-scale Khudoni Hydropower Project (HPP). The Ministry of Economy is currently preparing the project and developing proposals for potential investors to consider. Kobakhidze also noted that the state’s financial participation in the project is possible if required.
Earlier, Maia Melikidze, Executive Director of the Georgian Renewable Energy Development Association, mentioned that the project has attracted interest from an investor, reportedly from France, though the investor’s identity was not disclosed. Kobakhidze clarified that the project is still in the preparatory phase and no commitments have been made.
The Khudoni HPP, with a planned capacity of 702 MW, was initially started during the late Soviet era, but only preliminary work was completed by the time Georgia gained independence. In 2011, the government signed an investment agreement with the Indian company TransElectrica, which included guaranteed tariffs, but the project was never implemented. The agreement was eventually terminated in 2021.
In 2023, the Ministry of Economy updated the project’s parameters with the help of a German engineering consultancy, reducing the impact on local settlements compared to the original plan. Since then, the government has been preparing the project for investors, with the goal of implementing it as efficiently and quickly as possible.
