Georgia Capital to acquire Hydrolea for $38m.

Georgia Capital, an investment company, agreed to acquire Hydrolea, which operates three hydro power plants with an aggregate 21MW installed capacity, and has a greenfield HPP project with a 19MW targeted installed capacity, for $38m. "I am pleased to announce that our Renewable Energy Business has secured these high-quality assets with existing strong dollar-linked cash flows and high growth prospects. Georgia has gradually become a net electricity importer over the last two years, with growing internal electricity demand pointing to a record high 1.4TWh deficit by 2019, which is expected to grow significantly in the coming years. With this acquisition, our Renewable Energy Business continues to progress towards achieving its medium-term goal to become a dominant player in the fast-growing Georgian electricity market, which has benefited from recent market deregulation," Irakli Gilauri, Chairman and CEO, Georgia Capital.