Investment

New IFC Partnership in Georgia to Help Save Water, Conserve Power

New IFC Partnership in Georgia to Help Save Water, Conserve Power August 19, 2018Leave a comment
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IFC, a part of the entire world Bank Group, has signed a binding agreement that can help the Georgian Water and Power (gwp) company, a major supplier of water in Georgia, conserve resources and stay more energy-efficient, improving its competitiveness and environmental performance.

With IFC\’s advice, gwp will benchmark its energy consumption against global and regional peers, and identify opportunities to save water, lower energy costs, and increase efficiency. The partnership will be the first advisory engagement of IFC\’s Europe and Central Asia Energy and Water Solutions for Corporates advisory put in Georgia, portion of a larger effort by IFC to combat climate change, safeguard the environment, and help companies enhance their bottom lines.

\”At GWP, i am always searching for ways to both protect the surroundings and grow into more potent,\” said Giorgi Tskhadadze, CEO of gwp. \”With IFC\’s support, really is endless to recognize measures to advance boost the efficiency in our water supply operations, minimize energy consumption, and improve the quality of our own services to customers, businesses and households.\”

Georgia is going to reduce its energy use by 17 % by 2030 and GDP growth at exceeding 5 percent, which could require significant energy efficiency improvements round the economy. IFC\’s new ?program promotes purchase of energy and water efficiency, helping companies and municipalities throughout the region become more productive and competitive.

\”IFC\’s global experience dealing with in excess of 50 water utilities in over 20 countries shows that using energy properly is often a win-win, for both business and also the environment,\” said Milagros Rivas Saiz, IFC Global Head of Advisory. \”It can help reduce energy consumption by nearly Thirty percent and water losses around 80 %.\”

Climate change remains a strategic priority for IFC. To date, IFC has invested $15.3 billion in long-term financing for renewable energy, energy efficiency, climate smart agribusiness, green buildings, and smart cities, and mobilized $10.1 billion of capital using investors into climate business.

Georgia became an IFC member in 1995. Ever since then, IFC has committed around $1.6 billion in long-term financing, the fact that $774 million was mobilized from partners. That financing has supported 59 projects inside the financial services, agribusiness, manufacturing, and infrastructure sectors. Furthermore, IFC has supported much more than $331 million in trade through its trade finance program, and implemented many advisory projects focused on developing in which you sector in Georgia.

In fiscal year 2016, IFC invested almost $19 billion in developing countries worldwide.

About IFC
IFC, a part of the planet Bank Group, will be the largest global development institution focused entirely on the private sector in emerging markets. Dealing with a lot more than 2,000 businesses worldwide, we use our capital, expertise, and influence to create markets and opportunities within the toughest sectors of the whole world. In FY16, we delivered accurate documentation $19 billion in long-term financing for developing countries, leveraging the potency of an individual can sector to help end poverty and boost shared prosperity. For more info, visit?www.ifc.org

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About Georgian Water and Power company

Georgian Water and Power (gwp) can be a leading company in water supply market of Georgia, which offers Tbilisi population, state institutions, industrial and commercial facilities rich in quality mineral water. Georgian Water and Power is part of BGEO Group. In excess of 2700 employees in the company handle uninterrupted water flow of above 470 000 customers. Tbilisi water supply is being done via 4 000 km network. Georgian Water and Power also generates power at Zhinvali HPP, Tetrikhevi HPP and Saguramo HPP. Those three hydro plants are coupled to the unified power system of Georgia.

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