GGF finalizing review of solar panel projects in Georgia

Oil&Gas Materials 18 February 2021 17:06 (UTC +04:00)
GGF finalizing review of solar panel projects in Georgia

BAKU, Azerbaijan, Feb.18

By Tamilla Mammadova – Trend:

Green for Growth Fund (GGF) is currently finalizing the review of two projects in Georgia: one to support the local production of solar panels, and another one has to do with installations of solar panels on roof of buildings, the GGF told Trend.

In addition to this, the GGF has a broader approach to green finance that also includes energy and resource efficiency in households and businesses, the source said.

"We see the increase of energy and resource efficiency projects in Georgia to be important in certain sectors, such as buildings," the GGF noted.

The Green for Growth Fund is an impact investment fund that mitigates climate change and promotes sustainable economic growth, primarily by investing in measures that reduce energy consumption, resource use and CO2 emissions.

The fund is a public-private partnership that leverages risk-capital provided by public institutions with additional private capital to substantially increase investment volumes to regions and sectors that do not normally attract such flows.

The fund channels this dedicated financing to businesses and households through local financial institutions, and through direct investments to eligible projects and companies.


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