Colakoglu Machinery, located in North-East Turkey, specialises in the manufacturing of machines for crane, marble and mining industries and steel constructions.
The company decided to renovate its production facilities to improve the production process and reduce costs.
Colakoglu Machinery addressed TurSEFF for financing of the modernisation project, which included replacement of the existing old-fashioned sand blasting system with a new fully automated line.
The TurSEFF team performed the project analysis, including the technical-economic parameters and risks, to make sure the investment leads to sufficient energy savings and reduction of CO2 emissions.
The investment of €184,044 allowed the company to decrease its electricity consumption by 603 MWh per year and increase the production by 1.5 times. This led to the decrease of specific energy consumption by more than 90 per cent. The investment will be repaid out of energy savings in less than four years, leaving the new cash-flow as company income for the years to follow. Considering the life-time of new equipment, the revenue will last for a long time. In addition, the new system results in environmental benefits by reducing the release of dust and pollutants, as well CO2 emissions by 333 tonnes per year, enabling the company to have a strong input into mitigating the negative effects of human activity on the climate.
This project demonstrates that investments in energy efficiency lead to multiple benefits, enhancing the company’s financial standing and competitiveness in the market. Such investments are possible in all types of industries.
This way the EBRD, through TurSEFF, supports the sustainable financing and implementation of energy efficiency and renewable energy projects by the private sector. Together, the private, residential and public sectors can make a change in energy consumption patterns and environmental protection.