Brno-based Geen which will receive the final approval of its first project of a small-scale hydroelectric plant in Georgia in July 2018 has made another contract there. It plans to invest up to CZK 5bn in various projects, says Hospodářské noviny. It won the respective tender at the end of 2017. Thanks to the guaranteed purchase price of USD 60/MWh, the firm is expecting annual income of around CZK 180 millions.
Company Geen has focused before mainly to Czech domestic renewable market. In the Czech Republic and Slovakia Geen has 10 Photovoltaic and 6 small-hydro power plants. Geen is said to preparing in CR and Slovakia another 6 power plants for cca CZK 600 millions.
Geen´s foreign market expansion is quite ambitious. Until 2020, just within 2 and half years, Geen expect to raise its installed power generation capacity from 20 MW to cca 80 MW.
Source: ČIANEWS, Geen, Hospodarske noviny