Enguri HPP LLC announces a tender for the sale of electricity intended for export to Georgia’s neighbouring countries

I. General terms for the supply of electricity for export / intended for export

1. The forecast volume of export electricity produced by Enguri HPP LLC over the period from 00:00 on 01.06.2025 to 00:00 on 01.07.2025 is 330 (three hundred and thirty) megawatts on a baseload basis. The total forecast volume of electricity for export / intended for export may be distributed among several bidders, within the limits of their demand and taking account of the relevant export directions.

2. The forecast electricity supply schedule for the reporting month shall be approved by the parties to the contract together with the contract itself; any amendment or addition to the schedule must be agreed before the start of the relevant reporting period.

3. The schedule for the reporting month may undergo significant adjustment, either before the month begins or in the course of it, for reasons beyond the supplier’s control and on other force majeure grounds (including a shortfall in forecast water inflow, a requirement of the technical system operator of Georgia or of the relevant neighbouring country, damage to the transmission network of Georgia or of the relevant neighbouring country, a system failure or other objective circumstances). The existence of such circumstance(s) excludes any liability on the part of the seller.

4. Where the technical system operator so requires (including under operational conditions), any temporary interruption or delay in the supply of export electricity must be notified to the buyer no later than 24 (twenty-four) hours after it occurs. The existence of such circumstance(s) excludes any liability on the part of the seller.

II. Terms for submitting a commercial offer

1. The bidder must send a commercial offer stating the price of one kWh of the electricity to be purchased (rounded to two decimal places), in Georgian or English, to the e-mail address given in these rules.

2. The bidder shall submit the commercial offer referred to in point 1 from the day of publication on the official website of Enguri HPP LLC — www.engurhesi.ge — and no later than 19:00 (Georgian time) on 30 May 2025. Otherwise offers will not be treated as received and will accordingly not be considered. Offers must be sent to the following e-mail address: info@engurhesi.ge.

III. Terms for evaluating a commercial offer

1. The winner shall be the bidder that offers the highest price acceptable to Enguri HPP LLC after deduction of all potential costs, which must be higher than the tariff in force from 1 May.

2. Enguri HPP LLC reserves the right not to conclude the relevant contract if the price offered by the winning bidder is unacceptable to it.

3. In the case provided for in point 2 of chapter 3 of this document, any result of the auction shall be declared void and the auction shall have no legal consequences for Enguri HPP LLC, which excludes the submission of any claim of any kind against it.

IV. General terms of the contract

The law governing a direct contract for the export of electricity / for the purpose of export is the applicable legislation of Georgia, and the body hearing disputes is the courts of Georgia. The winning bidder unconditionally waives any right to seek the invalidation of this condition in any form and/or to contest it in any other way. The courts of Georgia have exclusive jurisdiction over any dispute arising out of or in connection with this announcement and the electricity export contract concluded thereafter.