Qartli Wind Farm LLC 100% Share Alienated

On November 15, 100% share of the Qartli Wind Farm LLC was alienated via the auction for 14,400,000.00 USD to the Caucasus Wind Company LLC. The preliminary share purchase agreement will be signed with the winning company within 10 days, and within 40 days from signing the preliminary share purchase agreement, the Caucasus Wind Company will have the opportunity to negotiate on a loan transfer with the European Bank for Reconstruction and Development. If no agreement is reached, then the company is required to repay the loan amount first and then transfer the “purchase price” to the bank account designated by the “seller”.

The auction on the sale of 100% share of the Qartli Wind Farm LLC by the JSC Georgian Energy Development Fund and the JSC Georgian Oil and Gas Corporation was announced on September 16 and nine companies applied for the auction documentation. The market price of the windfarm was estimated to be 14 250 000 USD.

The Qartli Wind Farm started operation in December 2016, with its installed capacity of 20,7 MW and an average annual output of 84,1 million kWh.

Ministry of Economy and Sustainable Development of Georgia. 2017 ©