Bank of Georgia to support construction of solar power plant

Georgia Materials 26 October 2021 14:46 (UTC +04:00)

BAKU, Azerbaijan, Oct. 26

By Maryana Akhmedova – Trend:

Bank of Georgia will provide funding to the Georgia’s Metekhi Ceramics company in the amount of 2.1 million Georgian lari ($669,856) for the construction of a solar power plant to reduce the energy costs, Trend reports via Georgian media.

The total cost of the project is 2.6 million Georgian lari ($829,346).

After the construction, the company will be able to generate 1.5 megawatts per year, saving up to 500,000 Georgian lari ($159,337).

Another successful project in cooperation with Metekhi Ceramics will give the opportunity to simultaneously protect the environment and support future development of the company, George Tserodze, Head of the Banking Sector of the Bank of Georgia, said.

The Bank of Georgia has already invested 3 million Georgian lari ($956,023) in Metekhi Ceramics, which was spent on the purchase of new equipment and re-equipment of the enterprise, the bank representative noted.

As a result, the company was able to increase its productivity by 41 percent and expand the products range, he added.


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