The U.S. District Court for the District of Columbia has recognized and enforced an ICC arbitral award in favor of ENKA Renewables over the Namakhvani HPP project. In its September 18, 2026 ruling, the court set the compensation payable by Georgia at $443.26 million, €356,190.82 and GBP 40,362.72. Interest at SOFR + 4% will accrue daily until the amount is fully paid, bringing the current total compensation to approximately GEL 1.15 billion.
The September 18 ruling followed a September 11 decision in which the U.S. court allowed enforcement of the award in the United States. Georgia had asked the court to suspend the case pending proceedings in France, where it is challenging the arbitration award, but the request was denied. The court also rejected Georgia’s arguments concerning the calculation of damages and alleged violations of U.S. public policy, finding that the award required only monetary compensation.
The original ICC arbitration award, issued in December 2024, ordered Georgia to pay ENKA $383 million, with additional interest pushing the amount above $400 million. ENKA turned to the U.S. court under the 1958 New York Convention on Arbitration. Georgia’s Deputy Justice Minister Beka Dzamashvili said the September 18 decision can be appealed and that the Georgian state intends to exercise this right.
The dispute dates back to October 2021, when ENKA initiated arbitration after Georgia terminated the investment agreement for the Namakhvani HPP project. ENKA said the state had violated its investment commitments after the $800 million project was halted; the company had reportedly invested up to $100 million in preparatory works. The planned 433 MW hydropower cascade in Tskaltubo Municipality was expected to become operational in 2025–2026.
