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EBRD plans to invest in energy-efficient public buildings in Georgia

Oil&Gas Materials 3 September 2020 18:29
EBRD plans to invest in energy-efficient public buildings in Georgia

BAKU, Azerbaijan, Sept.3

By Tamilla Mammadova – Trend:

After six years of work, starting with engagement with the European Bank for Reconstruction and Development (EBRD), Georgia now has state-of-the-art energy efficiency laws that will contribute to its green economy transition, Trend reports via the EBRD.

According to the EBRD, they will enable the country to make energy savings of 14 percent by 2025, helping it meet its international obligations in combating climate change, increasing its energy security, and strengthening its energy links with the European Union.

"The two new pieces of legislation – the Law on Energy Efficiency and the Law on Energy Performance of Buildings, passed in May – will also help improve energy performance standards for new constructions and building retrofits in line with EU standards," the EBRD said.

As reported, the EBRD is already preparing its first project in the sector. It is expecting to invest 40 million euros this year in providing 250 public buildings in Georgia with an energy-efficient retrofit. The adoption of energy efficiency legislation was a requirement for the deal.

"The adoption of the new energy efficiency laws is a landmark achievement for Georgia, which until now had practically no energy efficiency regulations in place and very limited investment in energy performance," said Vesselina Haralampieva, Senior Counsel in the Legal Transition Programme, who led the EBRD’s work on the Energy Efficiency Law.

The EBRD has been working on energy efficiency with policymakers in Georgia since 2014. Back then, the Bank was the only organization in Georgia to dedicate resources to policy work on energy efficiency.

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