Shopping for energy savings

IG Development Georgia
Tbilisi, Georgia
Various systems
Investment Size
US$ 1.8 million
US$ 240,000 saved in energy costs per year
EU4Energy, BMF

IG Development Georgia was established in 2010. The company owns a number of shopping centres, including Gldani City Mall, which was completed in 2016.

When designing the shopping mall, the company wanted to reduce energy costs by using energy-efficient technologies. The management decided to apply for GEFF financing.

GEFF consultants conducted an energy audit and performed a technical analysis of the future building, thus ensuring that the materials and systems used for construction of the building were in line with EU standards.

GEFF funding enabled the company to upgrade the building with energy-efficient sandwich panels, modern heating and cooling, as well as ventilation systems, LED lamps, and energy-efficient elevators and escalators. As a result, the company saves up to US$ 240,000 in energy costs per year.

“Thanks to the EBRD and its green financing programme, we are now able to significantly cut our costs. There are clear benefits to using high-performance technologies in our line of business.” – Levan Meskheli, CEO

The project was supported by EU4Energy and the Austrian Federal Ministry of Finance (BMF).