ENKA Terminates Contract with Government of Georgia; Namakhvani HPP Project Suspended

ENKA Renewable company has terminated the contract with the Government of Georgia.

The Hydro Power Plant valued at $800 million will not be built in Georgia, the statement that ENKA İNŞAAT published on the Istanbul Stock Exchange reads, according to which, the agreement was terminated as a result of a violation of the contracted terms and conditions and force-majeure conditions.

“Holding a 90% stake in ENKA Renewable, ENKA İNŞAAT notifies the Government of Georgia on termination/cancellation of the April 25, 2019 agreement on construction-ownership-operation of the Namakhvani HP Cascade as a result of a violation of the contracted conditions and force-majeure situation”, the statement reads. As reported by various sources on September 15, ENKA plans to sue the Government of Georgia to the arbitration court.

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ENKA Terminates Contract with Government of Georgia; Namakhvani HPP Project Suspended

ENKA Renewable company has terminated the contract with the Government of Georgia.

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ENKA Terminates Contract with Government of Georgia; Namakhvani HPP Project Suspended

ENKA Renewable company has terminated the contract with the Government of Georgia.

Last 7 Days Hot Topic

The restaurant "Drzlebi" Located in Terjola, will Reopen in May 01

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC 02

Hereti Global Starts Exporting Wine to the United States 03

The EU Urges Georgia to Refrain from Adopting Legislation that can Compromise Georgia’s EU Path 04

Beer Production Hits Record High in Georgia 05

Startup Georgia Resumes Funding for Innovation-Driving Projects 06

The restaurant "Drzlebi" Located in Terjola, will Reopen in May
01

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC
02

Hereti Global Starts Exporting Wine to the United States
03

The EU Urges Georgia to Refrain from Adopting Legislation that can Compromise Georgia’s EU Path
04

Beer Production Hits Record High in Georgia
05

Startup Georgia Resumes Funding for Innovation-Driving Projects
06