Norsk Minerals’ subsidiary, Clean Energy Invest AS, is developing a hydropower plant in Georgia in partnership with the Indian company Tata Power and IFC, a member of The World Bank Group.
In 2010, Clean Energy Invest AS (CEI) was granted a perpetual licence to develop the Shuakhevi hydropower plant in the Adjaristsqali river in Adjara, Georgia.
The Shuakhevi construction is the largest hydropower project in Georgia in the last 35 years. At full capacity the facility will produce 500 GWh/187 MW of electricity for the Georgian and Turkish markets.
The project company Adjaristsqali Georgia LLC (AGL) is responsible for construction of the plant. CEI owns 40% of the hydropower project in partnership with Tata Power (40%) and IFC (20%).