In recent years, Chinese companies have actively implemented the "going global" development strategy and sought development overseas. On January 28, 2021, the online bidding for the Georgia project of the Beijing Equity Exchange ended, and Sichuan Investment Group successfully delisted the 100% equity project of Georgia Eastern Power Company. This is also the first overseas mature renewable energy project successfully acquired by Sichuan Investment Group.

Basic project introduction

The project is the Kaduri Hydropower Station in the Eastern Province of Georgia. It is 100% owned by Eastern Power Company, a wholly-owned subsidiary of State Grid International Development Co., Ltd. The average annual power generation capacity of the project is 135.6 million kWh, and the average annual power generation hours is about 5100 hours, which is about 22% higher than the average utilization hours of power generation in Sichuan Province. The equipment working condition and safe operation are stable and good, and various economic and technical indicators are relatively good.

This project is also the largest economic and trade cooperation project in the electric power industry between China and Georgia so far. The development and operation of the project has attracted great attention from all walks of life in both countries.

In addition, the main body of the project from the design, construction, supervision to operation and maintenance of the power station is a Sichuan-based enterprise, and the project contains strong Sichuan "genes" and Bashu "elements".

The relevant person in charge of Sichuan Investment Group stated that the delisting is a useful demonstration of friendly cooperation, complementary advantages, mutual benefit and win-win situation between central and local state-owned enterprises. It will also build a springboard for Sichuan Investment Group to promote project development in West Asia and further accelerate its construction with international influence. A strong process of China’s first-class state-owned capital investment group.

Sichuan Investment Group actively responds to the National One Belt and One Road initiative and builds an industrial layout with the energy industry as the mainstay. The next step will be to earnestly implement overseas mergers and acquisitions procedures, handle project delivery matters in a vigorous and orderly manner, deepen the resources of the West Asia market, and coordinately promote regional related projects. Go to promote the implementation of high-quality projects of the Belt and Road Initiative. Editor/Sang Xiaomei