JSC Alliance Energy received funding from the commercial bank of Georgia
JSC Alliance Energy received the funding in the amount of GEL 1,570,000 from one of the Georgian commercial banks for the construction of small hydro power plant. The company has financed 40% of the project through its capital, the remaining 60% - will be financed from the Bank. With the Bank loan, the total investment amount has been attracted.
Alliance Energy also signed an agreement with the Indian hydro turbine manufacturer, B Fouress Private Limited (BFL). According to the agreement, the Indian company will provide two hydro turbines along with the generators to Alliance Energy. BFL will be responsible for the transportation of the equipments to the location, as well as their installment at the “Nabeghlavi HPP” and further supervision.
The subsidiary of Alliance Energy, JS AE-SGI Energy I is currently constructing a small hydro power plant (2.00 MW) on the river Gubazeuli, Guria region. The total value of the project is USD 2,800,000. The project will be completed by December, 2013.