JSC “Georgian Energy Development Fund” and JSC “Georgian Oil and Gas Corporation” announce a public auction for 100% share of “Qartli Wind Farm” LLC

19 September, 2019
JSC “Georgian Energy Development Fund” and JSC “Georgian Oil and Gas Corporation” announce a public auction for 100% share (hereinafter share) of “Qartli Wind Farm” LLC (404957338) (hereinafter “company”).

The Company owns a total of 20.7 MW of installed “Qartli Wind Farm” on 11 hectare plot, which includes 3.45 MW. 6 turbines, platforms, fundaments, underground power transmission, underground optical cable, building and other movable property in the Gori / Kareli municipality, near the wind power plant street.
“Qartli Wind Farm” is the first wind power plant project in Georgia with an annual forecasted generated electricity output of 84 100 000 kWh.
Power Plant was commissioned on December 20 of 2016. From November 10 of 2016 “Qartli Wind Farm” LLC was registered as a participant in wholesale trade with JSC “Electricity System Commercial Operator” and from January 27 of 2017, “Kartli Wind Farm” LLC was registered as a qualified enterprise at JSC “Electricity System Commercial Operator’s” unified accounting registry.
In order to obtain detailed information / documentation regarding “Qartli Wind Farm” LLC, interested parties must submit an Application regarding Confidential Information no later than 18:00 pm October 31 of 2019.

1. Application and signing of non-disclosure agreement (attached form) for the purpose of acquaintance with the documentation related to Qartli Wind Farm LLC.
2. For the purpose of participation in the auction, a document confirming the payment of a fee for confidential information / documentation - 5000 (five thousand) GEL
3. Contact information of an interested person (telephone, address, e-mail)
4. Identity card of a representative of interested party and document of representation (if interested person acts through representative)
5. The auction commission is authorized to request from the interested party any additional documentation.

On the basis of the above mentioned statement, non – disclosure agreement will be signed with the interested party on the basis of which the confidential information / documentation related to “Qartli Wind Farm” LLC will be delivered.

After familiarizing with the above information, the interested parties must additionally submit the following no later than 18:00 of October 31 of 2019 to participate in the auction:

1. Application about participation in the Auction, advance payment or maintenance of a loan to the European Bank for Reconstruction and Development (EBRD) and release of sellers from the obligations under the "Project Contracts" (attached form).
2. Unconditional and irrevocable bank guarantee for securing a share purchase agreement - 1,500,000 (one million five hundred thousand) GEL to be issued by a commercial bank licensed in Georgia. The amount of the guarantee shall not exceed 15% of the share capital of the issuing bank. The warranty period shall be at least two months longer than the deadline of fulfillment of the Buyer obligations.
3. Information about the interested person:
A) In case of a natural person:
a.a) ID card;
a.b) Guarantee provided for securing a share purchase agreement.
B) In case of a Legal entity:
b.a) Registration certificate (Extract)
b.b) Charter
b.c) Identification of the person authorized for Company management / representation and document confirming their authority.
b.d) Certificate from the relevant institution that no insolvency case is being conducted against the company;
b.e) A certificate from a relevant institution that no public-law restriction has been registered on the property of the interested person.
b.f) A certificate from a relevant institution that no interested party is not under reorganization or being liquidated.
b.g) About the beneficial owner of interested entity.
b.h) The decision of an authorized management body of an interested party on the conclusion of the share purchase agreement in case of participation and winning in the auction.
4. The documents referred to in the third paragraph shall be prepared / issued by the date of the auction and shall be duly certified (notary / legalization / apostille).
5. After the expiry of the deadline for submission of applications, the application shall be rejected.
6. The Auction Commission shall study the submitted documentation and in case of any defect, shall notify the interested parties on the compliance of the submitted documentation with the auction terms. In case of non submission of documents and / or improper submission of the documents, the interested party will not be allowed to participate.

Place of Auction - The auction will take place on November 15 of 2019, at a predetermined location in Tbilisi.
Starting value of the share - 14,250,000 (fourteen million two hundred and fifty thousand) USD equivalent in GEL, according to the official exchange rate established by the National Bank of Georgia on the day of payment.
BID – 150,000 (one hundred and fifty thousand) USD.
Identification of the winner - The winner of the auction will be identified based on the highest bid offered through oral trading.
The auction registration fee must be paid by transferring it to the following bank details:
Beneficiary – “Qartli Wind Farm” LLC
I/C 404957338
Address: Tbilisi, Baratashvili #8
Bank requisites:
Bank code: TBCBGE22
Bank account: GE65TB7647636030100001

Documentation related to the auction should be submitted to the administrative office of Q Qartli Wind Farm LLC at: Tbilisi, Baratashvili str. # 8, 4th floor.
For auction-related questions or further information, please contact the Company e-mail: auction@gedf.com.ge; Tel: +995 555 777 279;

Auction Rules

Bank Guarantee Form

Non - Disclosure Agreement