GEORGIA AND THE EU
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EU and Partners Invest EUR 5.14 Million into an Energy Efficiency Project in Georgia

On July 5th, the Nordic Environmental Finance Cooperation (NEFCO) and the Georgian Ministry of Finance signed loan and grant agreements to improve Georgia’s energy efficiency and  to introduce renewable resources and alternative energy sources . The project will also help Georgia comply with some of its commitments that stem from the EU Association Agreement, which include energy reforms. The agreements are part of the European Energy Efficiency and Environment Partnership (E5P), to which the EU is the largest donor. In total EUR 5.14 million will be invested. By making 25 public buildings more energy efficient, the program aspires to show the applicability of new building codes. The expenditure marks the first public sector investment by NEFCO in Georgia.

 

Proposed renovations include tasks such as improving roofs, walls, and pipes; and installing new ventilation systems, boilers, heat pipes, thermostatic valves, and LED lamps. It is estimated that the project will save the Georgian Government about EUR 200,000 per year. Likewise, CO2 levels are expected to be significantly reduced as a result of the program. In response to the project, Georgian Minister of Finance Nokoloz Gague stated, “By signing the Association Agreement with the EU and joining the Energy Union, Georgia has taken a commitment to implement standards in terms of energy efficiency and draw closer to EU regulations regarding energy efficiency.  We are pleased that our partners support the European aspirations of Georgia and make the significant contribution to the development of energy efficiency in Georgia.  This is the first project financed by NEFCO in Georgia.  We believe that the project advances an important incentive to develop energy efficiency of public buildings across Georgia”. Additionally, pertaining to the investment, Ambassador of the EU to Georgia, Janos Herman said, “We are happy to support this project through the E5P grant, where the EU is the biggest contributor. Our goal is to enable citizens to enjoy the benefits of energy-efficient buildings.  This requires that policy makers fully understand why and how to implement such projects. Next year, we'll roll out a big assistance package to help Georgia preparing for large-scale energy efficient renovation of public buildings".

 

Press Release

 

 

09-07-2018