Tata Power to develop hydro projects for $700 mln in Georgia

MUMBAI (Reuters) - Tata Power has signed an agreement to develop two hydro projects in Georgia for the sale of power, primarily to Turkey, at an estimated cost of about $700 million, the company said in a statement on Friday.

The hydro projects, expected to have an aggregate capacity of 400 megawatts, would be developed in three phases with the first phase expected to be completed before mid-2016.

(Reporting by Aditi Shah; Editing by Prateek Chatterjee)