Georgian Renewable Power Holding (Grph)

Renewable energy business operates has a diversified portfolio of commissioned hydro and wind power plants dispersed across Georgia with total installed capacity of 71 MW. Operating assets have combined P50 generation of up to 320 Mwh and 50%+ load factors on average. In addition, a pipeline of up to 172MW projects are currently at an advanced stage of development. Around 50% of the power generated in the next 5 years covered by PPAs backed by Government of Georgia, creating high cash-flow visibility and enabling the company to plan efficiently and attract long-term financing from international capital market. In addition, 85% of generated electricity comes to deficit months.