Japanese firm acquiring a stake in Dariali hydropower project which generates 4% of domestic power needs
16 Dec 2020 |
Michael Marray
Nippon Export and Investment Insurance (NEXI) is providing overseas investment insurance to TEPCO Renewable Power (TEPCO RP) for its investment in the Dariali hydropower project in Georgia.
This is the first project since NEXI and the Ministry of Economy and Sustainable Development of Georgia signed a memorandum of understanding (MOU) in March 2019. The agreement aims to promote bilateral trade and support companies entering the market of their partner country, creating high expectations for the expansion of Japanese companies into Georgia.
TEPCO RP is a 100% subsidiary of Tokyo Electric Power. It is acquiring a 31.4% stake in JSC Dariali Energy (Dariali Energy), a Georgian hydropower company, from Peri in Georgia to participate in the management of the Dariali Hydropower Plant (Dariali HPP).