Energy
Small hydropower in Guria — long-dated renewable generation.
THE THESIS
The group develops run-of-river hydropower in western Georgia. Both projects sit under the 2 MW threshold, where Georgian regulation removes the generation licence and ESIA requirements and applies zero VAT and zero import duty — with a state-secured tariff for 15 years.
INSIDE THE VERTICAL
Both plants are run-of-river schemes in Guria, western Georgia, each with 1.95 MW of installed capacity. Natanebi HPP runs a single Francis unit on a 116.5 m gross head — 110.5 m net — through a 4,300 m pressure pipeline to the 35/10 kV Dvabzu substation, for an estimated 13.49 GWh a year at a 78.98% capacity factor. Kvemo Bzhuzha, on the neighbouring river system, runs at roughly a 90% capacity factor.
The sub-2 MW threshold is the structuring decision, not an accident of site size. Below it, Georgian regulation removes both the generation licence and the ESIA requirement and applies zero VAT and zero import duty, while the tariff is secured by the state for fifteen years. The result is a long-dated generating asset with a known revenue line and very little operating complexity.