Tata Power, India's largest integrated power company, through Adjaristsqali Georgia LLC (AGL), its joint venture with Norway's Clean Energy Invest AS Norway (Clean Energy) and IFC InfraVentures (IFC), a member of the World Bank group, today, announced the synchronization of its 186 MW Shuakhevi Hydro Power Project (HPP) in record time.

Further, Tata Power has commenced stabilization procedures to ensure smooth operations. The construction of the plant started in the fall of 2013 and has been synchronized on the 1st and 2nd of August 2017, in a record time of less than four years.
 
Shuakhevi HPP is the largest hydropower plant to be built in Georgia over the past 50 years, and its project investment cost exceeded USD 420 million. The completion ceremony was presided by the Prime Minister of Georgia, Giorgi Kvirikashvili, and the Vice Prime Minister and Energy Minister, Kakha Kaladze.
 
Around 730 Georgian citizens were employed in the plant construction. The project will significantly contribute to Georgia’s path toward energy independence.  The power generated by the project will be exclusively sold within Georgia throughout the winter, which is a period of energy deficit.
 
Anil Sardana, CEO and Managing Director, Tata Power, said, ''We are delighted to announce the synchronization of our Shuakhevi hydro project in a record time. We continue to strengthen our international presence and look for viable business opportunities across the select international geographies. We are grateful to our strategic partners, Clean Energy and IFC InfraVentures, for helping us complete and synchronize this project within the prescribed timeline. We are also happy to announce that we have commenced stabilization procedures that will ensure uninterrupted power supply.''

Shares of the company gained Rs 0.1, or 0.12%, to trade at Rs 80.20. The total volume of shares traded was 122,256 at the BSE (1.51 p.m., Tuesday).