INTER RAO UES and the Government of Georgia Sign a Memorandum on Development of Cooperation in Electric Power Industry

In the Memorandum, the parties reconfirmed their interest in building three additional downriver hydro power plants with a total capacity of 90 to 100 MW so as to further develop Khrami HPP-1 and Khrami HPP-2 cascade.
In addition, the Memorandum gives INTER RAO UES Group an opportunity to participate in privatization of Georgian electric power businesses and defines the approach the parties will use to increase export potential of INTER RAO UES Group businesses when exporting electric energy from Georgia to Russia and Turkey. In particular, INTER RAO UES Group is ready to purchase all shares of Khrami HPP-1 and Khrami HPP-2.
INTER RAO UES is a diversified energy holding working in various segments of Russian and international electric power industry. INTER RAO UES is a leading exporter and importer of electric energy in Russia actively increasing its presence in electricity generation and sales sectors as well as developing new lines of business. INTER RAO UES corporate vision is focused on making the company a global energy enterprise and a key player in the international energy market. INTER RAO UES Group owns and operates over 28,800 MW of installed power generating capacity.