EBRD Approves Loan For Georgia's Largest Solar Power Plant

2025-12-23 10:02:43

(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 24. The European Bank for Reconstruction and Development (EBRD) has given the green light for a loan of up to $25.5 million (22.1 million euros) to ITEC LLC (International Turbine Engine Company) to kickstart the construction and development of a 73 MW solar power plant in Marneuli, Georgia, Trend reports.

With a total cost of $34.9 million, the project aims to establish the country's largest industrial-scale solar power station, marking a significant step in expanding renewable energy sources. The new plant will add 73 MW of solar capacity to Georgia's national power system, supporting energy diversification and complementing existing hydroelectric generation.

The solar station is projected to generate approximately 91.1 GWh of electrical output per annum, facilitating a reduction in carbon dioxide emissions by an estimated 21,077 tons annually.

The initiative aligns with two key transition goals outlined by the EBRD:

- Competitive transition – promoting private sector development in the energy market and enhancing competition.

- Green transition – contributing significantly to climate resilience and emissions reduction.

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