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Outstanding electricity savings in Georgian deep freeze production

Investor
Refrigeration company
Location
Poti, Georgia
Investment
Energy efficient refrigerating equipment, thermal insulation
Investment Size
$394,000
Financial results
Payback of 6 years;
Energy savings
85% of current energy consumption
CO2 savings
600 tonnes per year
Impact
Cost savings of $116,000 per year

In the port city Poti at the Black Sea coast of Georgia, the service and food industry are the most important sectors of the economy. Here, a successful Georgian refrigeration company constructed a cold storage facility in 2012.

To further boost the own performance, the company planned a new deep freeze facility and addressed Energocredit for a loan.

The Energocredit team performed the analysis of various aspects of the investment, primarily the potential of energy savings, financial-technical parameters and risks.

Following the Energocredit’s suggestions, the project comprised construction of two highly efficiency deep freeze cells (970 m2), installation of energy saving panels with a cam-lock panel system, and energy efficient refrigerating equipment with an automatic control system.

The $394,000 investment allowed to decrease the company’s existing electricity consumption by 85 per cent, leading to $116,000 cost savings each year. The investment will repay itself out of energy savings in just four years, turning the future cash-flows into company’s income for the years to come.

Industries requiring cooling or heating processes consume large volumes of energy and, hence, have high potential for energy savings. This project is an example, which should be be spread among similar businesses, in order to help them increase their competitiveness on the more and more globalized market.

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