On 8 December 2009 at the Tbilisi Presidential Palace in Georgia, the MOU (Memorandum of Understanding) of Namakhvani Kaskad Dams and Hydroelectric Power Plants Project which was planned to be made through the Build-Operate model was signed between the Ministry of Energy of Georgia and NUROL ENERGY, Korean KEPKO and (SK E&C) Companies that previously formed the consortium. The President of Georgia Mikheil Saakashvili, the Minister of Energy of Georgia Alexander Khetaguri, our delegation under the presidency of our General Coordinator Hüsnü Doğan and our partner KEPCO and SK&EC delegations attended the ceremony. The project covers three sequential dams that have an installed capacity of 450 MW and 1.6 billion kWh generation capacities, and a Hydroelectric Power Plant.