Enlight Renewable Energy has signed an agreement to buy the rights in a 100-megawatt wind energy project in the country of Georgia. The project, which has an estimated cost of up to $155 million, has the capacity to expand with an additional 200 megawatts.
The project, which is currently under development, has secured land rights and is the process of obtaining additional environmental permits. Developers include an engineering company with experience in developing wind energy projects in Central and Eastern Europe, and a local development company.
The project company has signed a memorandum of understanding with Georgia’s government and is negotiating a detailed framework agreement, which is expected to include the power purchase agreement (PPA), and which will anchor the project’s right to be connected to Georgia’s national grid, according to Enlight.
The PPA will be entered at the expected feed-in tariff of $65 per megawatt hour for nine months every ye
