Connect with us

Georgia Partnership Fund Starts Construction on Thermal Power Plant

Published

on

The US$ 4.3 billion Georgian Partnership Fund initiated construction on a 230 MW natural gas combined cycle thermal power plant 39 km south of the nation’s capital on January 17, 2014. The plant is financed jointly through the Partnership Fund and its wholly owned state-owned enterprise Georgian Oil and Gas Corporation (GOGC). The power plant is expected to be fully operational by 2015. It will generate 1.8 billion KW annually. Turkish energy company Çalık Enerji will be constructing the plant. The total cost of constructing the plant is placed at US$ 220 million.

Several leaders were present at the groundbreaking ceremony, including Irakli Gharibashvili, Prime Minister of Georgia; Kakhi Kaladze, Vice-Premier and Energy Minister of Georgia; Ahmet Çalık, Head of Çalık Holding and Irakli Kovzanadze, Executive Director of the Partnership Fund.

In a prior interview with the Sovereign Wealth Fund Institute, Mr. Kovzanadze noted a concerted effort to increase energy infrastructure saying, “For the past few years Georgia has been a net exporter of electricity; however, it required import and thermal power in the winter. As consumption is growing and the requirements for import or additional capacities are increasing, several new projects have been commenced.”

For the country’s prime minister, energy infrastructure is more than a step in bolstering their energy trade, but also a serious imperative for national security. “For any country and especially for Georgia, energy independence and energy security is very vital which is directly connected with the security of the whole country,” said Gharibashvili in a statement.

Currently, the country is 75% dependent on foreign energy, according to Energy Minister Kaladze. But “the country has everything to strengthen its energy independence,” he said.

CPPIB Tries Out CLO Equity Tranche Investing with Sound Point Capital

Published

on

Canada Pension Plan Investment Board (CPPIB) through its wholly-owned subsidiary, CPPIB Credit Investments Inc. (CPPIB Credit), is broadening its portfolio through new investments in equity tranches of collateralized loan obligations (CLOs) alongside experienced CLO asset managers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

CalPERS Names Yu Ben Meng as Chief Investment Officer

Published

on

The California Public Employees’ Retirement System (CalPERS) announced that Yu Ben Meng has been selected as the pension fund’s new chief investment officer (CIO). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Ontario Nonprofit Network Awards Mandate to OPTrust

Published

on

The Ontario Nonprofit Network (ONN), a nonprofit network for the 58,000 nonprofits in Ontario, selected OPTrust to manage defined benefit assets. ONN selected OPTrust Select, the new defined benefit solution from OPTrust. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.