Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Georgia
Location: Uravi village in the Ambrolauri region
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • European Bank for Reconstruction and Development (EBRD)
Status: Approved
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-07-08
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: RUSTAVI GROUP LLC
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Energy
Investment Amount (USD): $ 5.55 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 26.39 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ EBRD website
Updated in EWS: 2017-04-03
Disclosure Date: 2016-12-07
RSF - TBC Bank Lukhuni 2 HPP
EBRD-47534

Project Description
This project involves debt financing for the development, construction and operation of the 17.2 MW Lukhuni 2 HPP, a run-of-the-river hydroelectric power plant on the Lukhuni river near the Uravi village in the Ambrolauri region, northern Georgia.
Investment Description
Rustavi Group LLC is a special purpose vehicle (SPV) established for the sole purpose of constructing Lukhuni 2 HPP. Rustavi Group LLC will be ultimately owned by Rusmetali Ltd (51%), a limited company registered in Georgia, and JSC Partnership Fund (49%), an investment fund registered in Georgia.
Contact Information
ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.