Turkey's Çalık Holding has signed a deal to make wind power investments in Georgia, according to a report in the Dünya newspaper.
Having accomplished many investment projects in Turkey, Çalık Holding is continuing its growth in regional countries. It previously started working on the construction of the Tedzani Hydroelectric Power Plant, which will have capacity of 18 megawatts, in Georgia. The holding company has now launched a wind power project in the country. In the agreement for it, which was signed by Georgian Economy Minister Dimitry Kumsishvili and Çalık Holding Chairman Ahmet Çalık, the Turkish conglomerate stipulates the establishment of a 50-megawatt wind power plant.
Kumsishvili announced that Çalık Holding's investment will be $75 million. Speaking after the signing ceremony, Çalık said: "We believe in Georgia's future. This investment will reinforce the cooperation between Turkey and Georgia." The investment project will be co-funded by Çalık Enerji, a subsidiary of Çalık Holding, and the Georgian Energy Development Fund.