Bank of Georgia allocates funds for local solar power plant construction

Georgia Materials 28 January 2022 12:11 (UTC +04:00)
Bank of Georgia allocates funds for local solar power plant construction

BAKU, Azerbaijan, Jan. 28

By Maryana Akhmedova – Trend:

Bank of Georgia in cooperation with “Enterprise Georgia” allocated financial resources in the amount of 131,000 Georgian lari ($42,810) to the “Processor” company for the installation of a solar power plant, Trend reports via Georgian media.

After the installation of solar panels, the company will be able to generate about 135,000 kWh of power per 100 kW power plant, which will allow the company to save financial resources and use them for future development of production amid the increased electricity tariffs.

The company is a metal workshop that produces metal structures. “Processor” plans to strengthen its position in the market and introduce modern technologies.

“This time we decided to install solar power panels in order to reduce the increased costs for electricity and also to take care of the environment. This is a valuable support for us, which gives the opportunity to expand further, acquire new technologies, create more jobs,” the CEO of the company Badri Magradze said.

“We are pleased to have the opportunity to contribute to business incentives and future development. It is nice that our partnership with the company has been going on for many years and now we are implementing another interesting project together. We believe that if we support such businesses, we will be able to build a successful economy together,” the Bank of Georgia said.


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