JSC “Georgian Energy Development Fund” aims to find an investor for the development and construction of the Udabno Solar Power Plant project. which it will transfer a 90% share in the authorized capital of “Georgian Solar Company” LLC. Location : Georgia , Sagarejo municipality  near the village of udabno. Estimated installed capacity : 5MW.

If interested, must be submitted tender documentation no later than 18:00 on June 25,2018.

About project:

The construction of a solar power plant is planned in the vicinity of the village of Udabno, the estimated parameters of which are:

Name Udabno Solar Power Plant

Location Georgia, Sagarejo District, village of Udabno

Installed capacity 5 MW

Annual output 6,900,000 kWh

Project cost 4,500,000 USD

Currently, there is a feasibility study for this project, a project for connecting to the transmission network agreed with JSC Georgian State Electrosystem, tender documentation for the selection of an EPC contractor, and other studies.

the declared capital of the joint venture is 3,375,000 GEL. Of this , 10 % is filled  by the fund, the authorized capital. The investor has an obligation to replenish the capital in proportion to his share and also in accordance with the needs of the overall enterprise.

Along with the announcement of the investor selection tender, JSC “Georgian Energy Development Fund” establishes the standard terms of the partnership agreement ( decisions to be made together, share formation, option to leave the company , etc.) which are given in Appendix #1

In order to ensure the performance of the works envisaged by the Partnership Agreement (Phase 1), the winning investor is obliged to submit an unconditional and unclaimed bank guarantee in the amount of GEL 100,000. The feasibility study, the connection project and other studies may be obtained by an interested person upon written request, after signing a non-disclosure agreement.

Plan of partnership:

JSC “ Georgian Energy Development  Fund’ intends to find an investor to whom it will transfer a 90% stake in Georgian Solar  Company. For the development and construction of this power plant. Standard terms of agreement: (making decisions together, share formation, exit options for the fund, etc.) are provided in Appendix N 1.

Tender conditions.

The tender selection criteria are the amount of redemption and sell options and interest rate. The proposed redemption option rate should not be less than 20%, and the interest rate of the sell option - less than 15%. The difference should be at least 5%. The final winner will be whoever offers the highest rate.

The call and put options and their validity periods are set out in Annex #1 – Standard Terms and Conditions of the Partnership Agreement. Submitting documentation to the tender means agreeing to the standards in Annex #1.

In case of disagreement on any of the terms of the partnership agreement. JSC “ Georgian Energy Development Fund “ may terminate the negotiations and conclude an agreement with any other partner that participated in the tender. Or can announce it again.

The tender documentation must include:

Average annual proposed rates of redemption and selloptions, as defined in Appendix #1;

An extract from the National Agency of Public Registry on the registration of the legal entity participating in the tender;

The charter of the legal entity participating in the tender;

Copy of the identification document of the person authorized to represent the legal entity participating in the tender;

Audited financial statements for the last 3 years (preferred, but not mandatory);

JSC “Georgian Energy Development Fund” may request any additional information from the tender participants. Participants should provide as quickly as possible.  Any discrepancy may be the reason for disqualification.

Schedule:

For questions related to the tender documentation or for additional information, please contact us at the company's email address: s.gegeshidze@gedf.com.ge

The tender documentation must be submitted no later than 18:00 on June 25, 2018, to the following address: Tbilisi, Baratashvili St. #8, 4th Floor, 0105, Georgia.

The proposal must be submitted in a sealed envelope. The envelope will be opened when the deadline for submission of documents expires. And when the average annual rate of redemption and sell options is announced.

The winner will be announced within 10 working days of submitting the documentation.

Investor Tender Announcement Date: May 23, 2018

Deadline for Submission of Tender Documents: June 25, 2018, 18:00

Winner Announcement: July 6, 2018

Signing of Partnership Agreement: July 11, 2018

Main Terms of the Partnership Agreement