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Greening a Storage Facility with Electric Forklifts and Solar PV System

Investor
Decora-Group LLC
Location
Yerevan, Armenia
Investment
Electric forklifts
Investment Size
US$ 111,000
Financial results
Payback in 3 years
Energy savings
515 MWh per year
CO2 savings
121 tonnes per year
Impact
Lower operational costs, high-quality service
Donor
GCF, CIF

70% cost reduction is reached through quality warehouse equipment

Decora Group trades in renovation materials and furnishing and has been in the construction products industry for 20 years.

The company has expanded rapidly in the last five years, opening more showrooms, requiring bigger warehouse space, and purchasing new equipment. It was time to transition from diesel to electric forklifts.

The older machines generated more emissions, were harmful to employees’ health, and were costly. Decora Group applied for financing to GEFF’s partner financial institution. The electric forklifts that were purchased are more energy efficient and less costly.

The US$ 111,000 investment enables annual energy savings of up to 515 MWh and a 121-tonne reduction of CO2. Not only are the savings that make this investment worthwhile, but also the level of convenience attained. The employees also appreciate the equipment’s mobility, functional properties, and zero-emission operations.

“A decision was made to collaborate with EBRD’s GEFF Programme to invest in new generation electric forklifts that would be less costly in energy supply and maintenance. Then, we installed a solar PV system. Now we generate electricity for our consumption. Using electric forklifts and solar PV system has positive impact on the well-being of employees and made a significant reduction in company expenses”, said the Group’s Finance Director, Mr. Gor Nersisyan.

This project was supported by the Green Climate Fund (GCF) and Climate Investment Funds (CIF).

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