During 2021, state thermal power plants in Georgia generated a record ₾ 95 million profit.
According to financial reports, the Gardabani 1 thermal plant, owned by the Georgian Oil and Gas Corporation (GOGC) and the Partnership Fund, received an income of GEL 210 million last year, and its net profit amounted to GEL 75.3 million. The income of Gardabani 2 thermal plant amounted to GEL 160 million, and net profit – GEL 30 million. The net profit received by these companies should be distributed in the form of dividends to their owners - GOGC and the Partnership Fund.
The main expenditure for both thermal power plants was the purchase of natural gas. Gardabani 1 spent GEL 90 million on gas purchase, while Gardabani 2 spent GEL 93.7 million.
Gardabani 1 plant with a capacity of 230 megawatts was built by the Turkish company ÇALIK ENERJİ for $220 million, while the Gardabani 2 plant was built by the Chinese company China Tianchen Engineering Corporation for $180 million.
In 2021, Gardabani 2 consumed 194 million cubic meters of natural gas, while Gardabani 1 consumed 225 million cubic meters of gas.
The Georgian government also plans to build the Gardabani 3 TPP. The tender for the construction of a 272 MW TPP was announced back in 2020, and in November 2020, the Public Procurement Agency announced Turkish company ÇALIK ENERJİ as the tender winner, that had to build the project for $174.8 million. However, in 2021, the company announced that the bid proposal of ÇALIK ENERJİ was rejected. It is still unknown which company will be granted permission for construction of the mentioned TPP project.
