9 December 2009 - A consortium led by the state-run Korea Electric Power Corporation (KEPCO) has signed a memorandum of understanding with Georgia's energy ministry to build three hydropower plants.

Under the $1bn project, KEPCO, Korea's SK Engineering & Construction Co. and Turkey's Nuroli will construct the three hydroelectric power plants at Namakhvani on the river Rioni in the Tsageri district of western Georgia.

The three water power plants will have a combined capacity of 450 MW, accounting for 13 per cent of electricity generated in the country.

KEPCO said construction of the plants is expected to take approximately four to five years, and the consortium and the Georgian ministry plan to agree on financing and other details later on the project.