The NEFCO Fund and the Ministry of Finance of Georgia have today signed loan and grant agreements as part of the Eastern Europe Energy Efficiency and Environment Partnership (E5P). The agreements are aimed at financing energy efficiency measures as well as introducing renewables and alternative sources of energy supply in public buildings in Georgia. The total investment for the project is €5.14 million, co-financed by NEFCO, the E5P – to which the EU is the biggest donor – and the Ministry of Foreign Affairs of Denmark. The project will help Georgia to comply with some of its commitments within the EU Association Agreement, including the implementation of energy reforms.
In total, 25 public buildings with different functions such as schools, kindergartens and municipality administration offices located in three different climate zones in Georgia will be included in the project. The planned energy efficiency measures will generate annual cost savings of approximately €200,000 for the Government of Georgia and the expected annual CO2 reductions are approximately 1,300 tonnes. Furthermore, up to 10,000 people, mainly children, teachers and public employees, will benefit from upgraded buildings and better conditions.
“We are pleased that our partners support the European aspirations of Georgia and make the significant contribution to the development of energy efficiency in Georgia. We believe that the project advances an important incentive to develop energy efficiency of public buildings across Georgia,” said Nikoloz Gagua, the Minister of Finance of Georgia.
“We are happy to support this project through the E5P grant, where the EU is the biggest contributor. Our goal is to enable citizens to enjoy the benefits of energy-efficient buildings. This requires that policy makers fully understand why and how to implement such projects. Next year, we'll roll out a big assistance package to help Georgia preparing for large-scale energy efficient renovation of public buildings.” stated Janos Herman, Ambassador of the European Union to Georgia.
Energy efficiency measures include improvements to roofs, walls and pipes, the installation of new ventilation systems, installation and replacement of boilers, installation of heat pipes, thermostatic valves and other automation control systems, as well as the installation of LED lamps and exterior lighting systems and solar PV energy systems.
The Eastern Europe Energy Efficiency and Environment Partnership (E5P), part of the EU4Energy initiative, is a multi-donor fund, to which the EU is the biggest donor, targeted at municipal energy efficiency investments in the Eastern Partnership region.
NEFCO is an international financial institution established in 1990 by the five Nordic countries – Denmark, Finland, Iceland, Norway and Sweden – with the specific purpose to promote environmental investment and sustainable development.
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