Georgian Economy Ministry has published on Wednesday the upshots of the economic research on the Namakhvani HPP project.

The Ministry claims the Namakhvani HPP project is one of the most well-studied projects in the Georgian energy sector.

Four different independent consulting companies conducted economic evaluation studies for the Namakhvani HPP project during 2007-2019, Ministry noted.

“The Strategic Environmental Assessment of Georgia’s Energy System funded by the World Bank in December 2007 said that the Namakhvani HPP project is considered to be the best project for the Georgian energy system.

The Georgian company Gamma Consulting noted in 2015 that the project-related benefits significantly outweigh the damage that the project implementation may cause.

According to McKinsey and Company report published in August 2018, the Namakhvani HPP is considered an economically justified energy facility that fully meets international standards.

On top of that, NERA Economic Consulting company’s report issued in January 2019 said that the HPP project would be implemented in line with the least-cost methodology,” Ministry added.

Economy Ministry added that the contract with a tender-winning Turkish company fully meets international standards.

The protests against the HPP construction have been underway in western Georgia for almost six months. The Georgian suspended the HPP construction for 9 to 12 months until the environmental, geological, and seismological surveys are reviewed. Nevertheless, local protesters plan to continue rallies. They believe the HPP would be constructed anyway, which they oppose.