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Inter RAO UES ready to buy 100 percent of shares of Hram 1 and Hram 2 hydropower units

2011-04-20 15:34

Inter RAO UES Russian energy holding has voiced its readiness to buy 100 percent of shares of the Hram 1 and Hram 2 Georgian hydropower units. The Georgian side is expected to receive about 104 million dollars for them.
However, as was reported by Business Georgia with reference to the head of the press service of the Russian concern Nikolay Gorelov, the privatization process has not started yet.


Inter RAO has got nothing in common with the political relationship between Georgia and Russia, Gorelov underlined in a recent interview to BBC radio station. "We are connected only by business interests", - Gorelov says.

The advantages of cooperation with Inter RAO UES were many times stated by the Georgian Ministry of Energy as well.

According to the Georgian expert in the field of energy Liana Jervalidze, there are no more volunteers to acquire a middle-capacity hydropower unit except Inter RAO. But anyway, the Georgian market is commercially beneficial to the Russian company. According to Jervalidze, Russians are presently the distributors of electric energy in the Georgian capital and the high-voltage power lines belong to Russian-Georgian companies. However, the new hydropower units are mainly represented by various companies.

In the expert's opinion, in about six years, the share of the Russian energy companies in the Georgian market will be reduced.

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