Adjaristsqali Georgia LLC (AGL) is the special purpose vehicle set up to develop the hydropower resources on the Adjaristsqali River and its tributaries, in the Autonomous Republic of Adjara, in South Western Georgia. AGL is a joint venture between India’s Tata Power and Norway's Clean Energy Invest (40% each), and IFC, a member of the World Bank Group (20%). IFC has supported the project since its early development, through IFC InfraVentures, which is an early stage project developer launched by IFC. The joint objective is to develop the Adjaristsqali project as a sustainable project from an environmental, technical and economic point of view.
The joint objective to Clean Energy Group, Tata Power and IFC is to develop the Adjaristsqali project as a sustainable project from an environmental, technical and economic point of view. The Adjaristskali project is a cascade hydropower project located on the Adjaristskali river and its tributaries. Up to four power stations are planned with up to 400 MW of installed capacity.
Investors plan to have the Shuakhevi project operational by the spring of 2016 and a second project- the 150 MW Koromkheti by spring 2018.
ABOUT TATA POWER
TATA Power- an integrated power company is part of the Tata Group. The TATA Group, the largest Indian multinational diversified company- with its headquarters in Mumbai -was founded in 1868. Currently, it encompasses 100 companies in seven business sectors: communications and information technology, engineering, materials, services, energy,
consumer products, and chemicals. The group operates in 80 countries worldwide. Every Tata company or enterprise operates independently. Each company has its own board of directors and shareholders, to whom it is answerable.
ABOUT CLEAN ENERGY GROUP
Clean Energy Group is the brand name for the sister companies Clean Energy Invest AS and Clean Energy Group AS. Clean Energy Invest AS was set up in February 2010 as a single purpose company to develop the Adjaristsqali hydro project in Georgia. Clean Energy Group AS has been set up to develop Greenfield hydro projects in countries with a sustainable energy framework and untapped hydro potential.