The Memorandum of Understanding pertaining to the feasibility study, construction and operation for Alpana HPP and Sadmeli HPP projects was signed by the Georgian Minister of Energy Mr. Kahka KALADZE and Çalık Enerji's Chairman AHMET ÇALIK on 11th of Octoner, 2014 as a part of a ceremony graced by Turkey's Minister of Energy Mr. Taner YILDIZ.
To be the first hydroelectric investment projects of Çalık Enerji in Georgia, Alpana HPP and Sadmeli HPP projects were designated to be equipped with installed capacity of 71 MW and 153 MW respectively, and estimated to generate a total of 1 Billion KwH power a year. With a total cost of investment worth USD 500 Million, the projects are estimated to put into operation in 2020.
The agreement was signed in a way to safeguard the company's interests In the wake of long haul and challenging negotiations and thanks to great efforts of employees and support of executives as the company's efforts for investment and operation of the projects will be exerted in line with the vision and mission of the company and corporate values.
Featuring the first international projects of the company in renewable energy, the projects will hopefully contribute to relations between Turkey and Georgia, and new investments to be made by the company in Georgia, and result in fruitful conclusions for the company.