The construction of Namakhvani HPP is planned in Rioni gorge. It is the largest energy project in the history of Georgia’s independence, which is implemented with a direct foreign investment up to $800 million. Construction of Namakhvanvani HPP will significantly contribute to Georgia’s energy independence. The project will satisfy 20% of the peak energy demand in the country and increase domestic annual generation by 15%.
Namakhvani HPP will also support Georgia’s commitment under the Paris Agreement to reduce CO2 emissions by approximately 750,000 tons per year.
The main investor of the project and 90% shareholder is the Turkish corporation ENKA (ENKA İnşaat ve Sanayi A.Ş.). ENKA is one of the largest companies on the Istanbul Stock Exchange with a capitalization of $5 billion.
The Namakhvani HPP project will be the second successful project in Georgia implemented by ENKA Renewables. In 2014-2019, the company, along with its long-standing business partner, American company Bechtel, was a contractor for British Petroleum in the South Caucasus Pipeline Expansion Project.