JSC “Georgian Energy Development Fund” is searching for an investor for development and construction of the Udabno Solar Power Plant Project, which it would transfer 90% shares in the authorized capital of "Georgia Solar Company" Ltd. The above-mentioned Project area is located in Georgia, Sagarejo Municipality, nearby the village Udabno and estimated installed capacity amounts to 5 MW.
Persons interested have an opportunity to express the interest and submit the tendering documentation until 18:00 of 25th of June, 2018.

About the Project:
Within the nearby territory to the village Udabno, the construction of the Solar Power Plant is planned with the following estimated parameters:
Project Name Udabno Solar Power Plant
Location Sagarejo region, village Udabno, Georgia
Installed Capacity 5 MW
Annual output 6 900 000 kWh
Project Cost 4 500 000 USD

Currently feasibility study on the projects exists, project to connect into the transmission network, coordinated with the JSC "Georgian State Electrosystem", the Tender documentation for selection of EPC contractor and other studies.
The authorized capital of JVC is 3 375 000 GEL, of which the equity contribution by the GEDF will amount to 10%. The investor shall provide equity contribution in proportion to its share, in accordance with the needs of the JVC.
Along with the announcement of the tender for the selection of investors, JSC “Georgian Energy Development Fund” sets the standard terms for Partnership Agreement (decisions that needs to be made unanimously, distribution of shares, call and put options etc.) that is stated in the Appendix N1.
In order to secure the works provided for by the Partnership Agreement (Phase 1), the winning investor shall submit the unconditional and irrevocable bank guarantee in amount of 100 000 (one hundred thousand) GEL.
Feasibility study, grid connection plan and other studies shall be obtained only upon the written request of the interested person and after signing of Non-Disclosure Agreement.

Cooperation Plan
JSC “Georgian Energy Development Fund” intends to find an investor, which it would transfer 90% shares in the authorized capital of "Georgia Solar Company" Ltd. with a purpose of development and construction of the above-mentioned power plant.
Standard terms and conditions of the Partnership Agreement (decisions that needs to be made unanimously, distribution of shares, call and put options etc.) is reflected to the Appendix N1.

Terms of the Tender:
Selection criteria for the participants to tender are Call and Put Option rates suggested by them. The suggested Call Option rate should be not less than 20% and Put Option rate shall be at least 15%. The difference between Call and Put Option rates shall be at least 5%. Participant, suggesting highest interest rates will be selected as the winner.
Call and Put Options and their working periods are defined in Annex 1 - Standard terms and conditions of shareholder agreement. Bidding automatically means that participant agrees on the standard terms and conditions of the Shareholder Agreement announced in Annex 1.
In the event the agreement on the certain provision of the Partnership Agreement which has not been included within the standard terms and conditions cannot be achieved, JSC “Georgian Energy Development Fund” is authorized to terminate the negotiations and sign the agreement with the other probable partner who has been participating in the tender or is authorized to re-announce the tender.

Bidding documents shall include the following:
Average annual rates suggested for call and put options defined by Annex 1;
Extract from the National Agency of Public Registry of a legal entity participating in the tender;
Charter of the Legal Entity participating in the Tender;
Copy of the identification document of the person who has/have the authority to represent the participating legal entity;
The audited financial statements of the last 3 years (preferably but not obligatory);
JSC Georgian Energy Development Fund is entitled to require any additional information if assumed needed. Tender participants should make all the effort to submit requested information in time required by GEDF. Any discrepancy between presented documents with reality might be a reason for disqualification of the Tender participant.

Timetable:

Questions regarding bidding documentations or requests regarding additional materials should be sent on company’s email: s.gegeshidze@gedf.com.ge 
Bidding documents should be submitted until 18:00 of June 25th 2018 at the following address: N8, Baratashvili Str. 4th Floor, 0105 Tbilisi, Georgia. Proposals should be presented in a closed envelope, duly stamped and submitted by representative of the company. Envelopes will be opened immediately when submitted and annual rates of call and put options suggested will be announced.
Final winner of tender will be announced in 10 working days after final deadline of submitting bidding documentation.
Tender opening date for selection of investors: 23rd of May, 2018
Final Deadline for submission of bidding documentations: 18:00 of 25th of June, 2018
Winner announcement: July 6th, 2018
Signing of the Partnership Agreement: July 11th, 2018

Appendix-1-Basic-terms-and-conditions-of-Partner