2021 has been a challenging year, dominated by the pandemic from the very beginning. Both the public and private sectors were forced to adapt to a “new normal”, devising hybrid methods of socialising, working, and operating. The battle against the effects of the coronavirus has been a unifying challenge for all countries, and while caring for the health of its citizens has dominated the agenda, the Glasgow Climate Pact shows that the commitment of world leaders to mitigate the threats of climate change is still ongoing and relevant.
Despite the challenges faced during the year, GEFF in Georgia and its partner financial institutions have financed various projects that in one way or another help contribute to protecting the environment.
In the span of one year, GEFF in Georgia has financed projects in all its fields of focus.
Energy efficiency
GEFF financing has collectively helped avoid up to 1,000 tonnes of CO2 emissions. One of the most notable projects in this regard was the construction of a new office building carried out by Vake Hill. This investment in thermal insulation, windows, doors, heating and cooling systems, LED lighting, and elevators will help the company save up to US$ 54,000 in energy bills annually, saving 2,000 MW/h and avoiding 350 tonnes of CO2emissions.
Renewable energy
With the rise of commercial electricity rates, the importance of developing internal energy generation capacities has become a pressing issue for Georgian businesses. Numerous events dedicated to investments in solar energy organised by GEFF and its partner financial institutions have helped dispel the myth of the high price of these technologies. With a GEFF loan of USD 36,000, mego.ge, an online supermarket, has installed a fully functioning solar station that will help the company increase its energy independence and avoid the risk of fluctuations in commercial energy rates. What is especially noteworthy about this project is its short payback period of just a little over three years. In the long-term, the company can reinvest its savings into increasing the satisfaction of its employees and providing improved and faster service to its customers.
The case of mego.ge illustrates that any business can benefit from the financial gains offered by investments in solar energy. However, along with tangible financial results, generating one’s own energy also offers intangible benefits. JSC Graali-92, which has been in operation since 1936, is one of the first companies of significant size and history to invest in high-performing, modern technologies. A solar PV station will not only help the company cover almost 100% of its electricity needs, but also maintain its position as the market leader.
Resource efficiency
Increased consumption of resources results in the increased use of energy and increased GHG emissions. The latter is cited as one of the main contributors to climate change, which threatens the livelihood of individuals and the economies of all countries. The agricultural sector is most vulnerable to the risks of climate change. GEFF in Georgia is especially proud to participate in private sector projects that help businesses save resources and utilise their full potential.
Agro Grain LLC, a company that owns and cultivates several plots of land outside Tbilisi, invested US$ 365,000 in a drip irrigation system. Before installing the new system, the land was largely unusable, due to its unfavourable topography. In addition to allowing the company to fully utilise the its land, the system will enable it to save 152 000 m3 of water and optimise the use of fertilisers and pesticides. The technologies proved to be so beneficial that the management of Agro Grain LLC has decided to replace all its traditional irrigation systems.
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