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KEPCO signs $1 billion Georgia hydro deal

South Korea’s state-run utility Korea Electric Power Corp. has signed a memorandum of understanding with Georgia’s energy department to develop $1 billion in hydropower projects in the country, news agencies reported.

The agreement covers the development of hydroelectric projects in Namakhvani in western Georgia that will supply 13 percent of Georgia’s total power generation, reports state.

The MOU covers the development of three hydro plants on the Rioni River with a combined capacity of 450 MW.

KEPCO has teamed up with South Korea’s SK Engineering and Construction Co. and Turkey’s Nuroli Construction and Trading for the project, reports state.

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