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BGI Legal advises the lenders on the USD 250 million facility to Adjaristsqali Georgia

BGI Legal's team, led by Lasha Gogiberidze and Sandro Bibilashvili, has just completed its advice to the lenders on the USD 250 million facility to Adjaristsqali Georgia in respect of the financing of the largest private hydropower investment project in Georgia, the Shuakhevi hydropower scheme. The project aims to export power to Turkey by the end of 2016 for nine months each year through the 400kV cross-border Akhalskhe-Borcka transmission line and sell domestically for the remaining three consecutive winter months.

The lender group of Asian Development Bank, European Bank for Reconstruction and Development and International Finance Corporation together provided  a loan facility of USD 250 million. IFC was a lead arranger for the financing and is also an equity investor in the project company. The sponsors of the project are India's Tata Power (40%), Norway's Clean Energy Invest (40%), and IFC (20%).

Solid team with vast experience of handling a wide spectrum of corporate and commercial as well as financial matters. Particularly well versed in project finance and boasts an impressive track record in some of the country's biggest energy and infrastructure projects. Popular choice for prominent international and local clients, including financial institutions and corporates from an array of industry sectors. Clients are impressed with the team's approach, saying: "The best thing is their coming up with proactive advice and suggesting a structure. They are able to work under pressure and respond immediately." Another client adds: "As soon as we give them a project we don't need to double-check anything." Other typical comments are: "They are a top-tier firm on the market with highly skilled, efficient and solution-oriented lawyers."

Chambers Europe - 2017
A leading figure in capital markets and M&A, Lasha Gogiberidze has an enviable track record of acting on the market's highlight deals, primarily advising banks, including international developmental institutions. He wins praise for his responsiveness and is described as "very client-focused and understanding of our needs."

 

Chambers Global - 2018

Zaza Bibilashvili is a highly respected corporate and disputes lawyer with significant practical experience in real estate transactions. Clients note his creativity and availability.

Chambers Global - 2018