Hrami-2 Georgian hydroelectric station may be sold to Russia

Georgian Hrami-2 hydroelectric station may soon be transferred to 100-percent possession of INTER RAO UES OJSC. As reported by GHN, 100 percent of shares will belong to Gardabani Holdings B.V. company registered in Holland; however, the company's assets belong to INTER RAO UES and Chairman of the Board is Vice Prime Minister of Russia Igor Sechin, the publication asserts.

It is stated that the Georgian government has prepared a draft agreement and the authorities' official statement on the transaction is expected to be made next week.

According to preliminary information, Gardabani Holdings B.V. will pay 44 million dollars for 100-percent block of Hrami-2 shares and until January 1, 2031 will maintain 85 percent of the produced capacity of the station that had existed before the conclusion of the privatization agreement.

Hrami-2 is temporarily managed by INTER RAO UES since 2006. The possible sale of the facility to Russia was not mentioned earlier.

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