$125m to improve energy efficiency in Georgia

Georgia has been granted a loan worth $125 million (£80m) to support energy efficiency in the Caucasus. Businesses looking to be more efficient can apply for a share of the loan. The Energocredit […]

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By Jacqueline Echevarria

Georgia has been granted a loan worth $125 million (£80m) to support energy efficiency in the Caucasus.

Businesses looking to be more efficient can apply for a share of the loan.

The Energocredit programme is supported by the European Bank for Reconstruction and Development (EBRD), the European Union’s Neighbourhood Investment Facility (NIF) and Austria.

The EBRD claims cement producer Georgian Building Group (GBG) cut its energy consumption by 40% and carbon emissions by more than 2,000 tonnes per year under the programme.

The work included the rehabilitation of its plant, the improvement of the cement mill with new engines and the installation of efficient equipment such as air compressors.

Remon Zakaria, Principal Business Development Manager in the EBRD Energy Efficiency team said: “Energocredit encourages companies and private households to identify, prioritise and finance sustainable energy investments.”