Telasi
Encyclopedia
Telasi is an electricity distribution
company of Tbilisi
, Georgia
. In 1998, the company was privatized to AES Corporation
, whose efforts to repair and modernize the electrical grid of Tbilisi were documented in the film Power Trip
by Paul Devlin
. In 2003, AES sold Telasi to a Russia
n company Inter RAO UES
. The Russian company paid $26 million to AES for Telasi and in return AES paid off $60 million of Telasi debt, in effect paying Inter RAO UES
$34 million to take Telasi off their hands. The sale took place less than a year after AES-Telasi CFO Niko Lominadze was found murdered in his apartment and numerous other threats were made to AES-Telasi management. In the end, AES lost more than $300 million on the Telasi episode.
Electricity distribution
File:Electricity grid simple- North America.svg|thumb|380px|right|Simplified diagram of AC electricity distribution from generation stations to consumers...
company of Tbilisi
Tbilisi
Tbilisi is the capital and the largest city of Georgia, lying on the banks of the Mt'k'vari River. The name is derived from an early Georgian form T'pilisi and it was officially known as Tiflis until 1936...
, Georgia
Georgia (country)
Georgia is a sovereign state in the Caucasus region of Eurasia. Located at the crossroads of Western Asia and Eastern Europe, it is bounded to the west by the Black Sea, to the north by Russia, to the southwest by Turkey, to the south by Armenia, and to the southeast by Azerbaijan. The capital of...
. In 1998, the company was privatized to AES Corporation
AES Corporation
AES Corporation is a Fortune 500 company that generates and distributes electrical power. The company was founded on January 28, 1981, as Applied Energy Services by Roger Sant from the US Federal Energy Administration and Dennis Bakke from the Office of Management and Budget. AES Corporation is...
, whose efforts to repair and modernize the electrical grid of Tbilisi were documented in the film Power Trip
Power Trip (film)
Power Trip is a documentary film by director Paul Devlin that describes the electricity crisis in the country of Georgia shortly after the fall of the Soviet Union....
by Paul Devlin
Paul Devlin (filmmaker)
Paul Josiah Devlin is a sports editor and documentary filmmaker.A five-time Emmy winner for his work on NBC's Olympics and CBS's Tour de France, Paul Devlin's films include Power Trip, which screened in 60 countries, theatrically across the United States and on PBS's Independent Lens, was nominated...
. In 2003, AES sold Telasi to a Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
n company Inter RAO UES
Inter RAO UES
Inter RAO UES is a Russian energy company engaged in power generation and electricity trading. It has electricity export and import monopoly in Russia.- History :...
. The Russian company paid $26 million to AES for Telasi and in return AES paid off $60 million of Telasi debt, in effect paying Inter RAO UES
Inter RAO UES
Inter RAO UES is a Russian energy company engaged in power generation and electricity trading. It has electricity export and import monopoly in Russia.- History :...
$34 million to take Telasi off their hands. The sale took place less than a year after AES-Telasi CFO Niko Lominadze was found murdered in his apartment and numerous other threats were made to AES-Telasi management. In the end, AES lost more than $300 million on the Telasi episode.