Green For Growth Fund

Fond for renewable energies, for the reduction of CO2 emissions and against the waste of ressources.

Green For Growth Fund

Wenesday 11 July 2018

 

On July 11th, the CCIFG met with the representative of the "Green For Growth Fund", Mr. Tobias Panofen in order to present the activites of the fund.

 

Core business: invest in projects dedicated to renewable energies, to the reduction of CO2 emissions and against the waste of ressources.

Mission: promote the energy efficiency and renwable energies.

Goal: reduce by 20% the energy consumption and by 20% th CO2 emissions.

The fund has been put in place by the European Bank for Investment in 2009 and is fonctionning on the bases of a PPP (Public-Private Partnership).

 

The funds is supporting projects in two ways:

  • by refinancing financial institutions that will finance households, businesses, the public sector in the concerned field.

          This type concerned the majority of their investments.

  • by direct investments in non-financial institutions that reach the funds' objectives, the technical criteria and their exclusion list.

All the activites are supported by the "Fund's Technical Assistance Facility".

 

In Georgia, the fund financed:

  • Quartli Wind Farm: wind turbine farm
  • Bank Republic for the expansion of its green activity
  • TBC Bank GE in order to reinforce their participation in renewable energies and energy efficiency projects.
  • M2 Real Estate for the construction of 1,900 new flats respecting the energy efficiency standards.
  • Dariali Hydroelectric Power Plant in the production of renewable energy.

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