Tbilisi (GBC) - According to the financial report, "Kartli Wind Power Plant" Ltd. records the income of 17.5 million GEL in 2021, which is 5.9% less than the year of the pandemic (2020).
The company's cost of sold goods decreased by 1.1% and amounted to 6.8 million GEL in 2021.
Although in the reporting period the company's total profit decreased by 8.5% to 10.7 million GEL, the company increased its net profit by 478% to 11.8 million GEL. The mentioned increase was caused by the loss caused by the company's financial obligations, in which the company lost 4.8 million GEL in 2020.
The increase in the company's net profit is also due to financial income, which increased by 446% compared to 2020 to 5.6 million GEL.
During the reporting period, the company's assets decreased by 17.4% to 62 million GEL, but the capital increased by 61.5% to 27.3 million GEL.
Kartli Wind Power Plant LLC was registered in 2012. Its current owner is JSC "Georgian Renewable Energy Operations". The station was put into operation in 2016 and its average annual output is 84.1 million kilowatts. The installed capacity is 21.7 megawatts.
The total cost of the Gori wind power plant project was 34 million USD, of which 22 million USD was financed by the European Bank for Reconstruction and Development (EBRD).
100% share of the Kartli wind power plant was sold at the auction held on November 15, 2019 for $14,400,000 (11 hectares of land, 6 wind turbines, etc.). "Georgian Wind Company" LLC, which is part of the investment holding "Georgian Capital" (GCAP), won the auction.