Results of unfreezing the energy saving potential in the Caucasus

As of the end of 2015, Energocredit extended 16 credit lines to local participating financial institutions and financed more than 39,000 households and 47 large corporate companies. The loans worth $74 million were focused on energy efficient investments in the Caucasus region.
These investments generated 682 GWh of energy savings per year. The amount of energy saved is equal to the annual energy demand of around 53,000 households.
These savings make the companies more cost-efficient and  competitive, while the residential customers can enjoy lower energy bills and improved comfort level in their homes.
The implemented measures led to reduction of 170,000 tonnes of CO2 emissions per year, leaving the Caucasus with as pure environment as it deserves,  both for the local people and for multiple tourists enjoying natural wonders of the region.
Below are the quotes of some of the successful project developers, stating that the achieved results were beyond their expectations and led to more than satisfying results.
Our investment has not only met but also exceeded our expectations. We were expecting about 35-40 per cent energy saving after the implementation of the project. Our ongoing monitoring shows that we achieve even more than that - up to 50 per cent energy savings. Our use of natural gas has curtailed substantially.
Armen Sargsyan, Director, Alternative Energy LLC
We are content with the results: reduced energy use, lower energy costs, resulted in savings on per-item production costs, while increasing diversification and volumes of production.
Karen Gomtsyan – Director, Lentex LLC
We have experienced significant energy savings and up to 10 times reduced use of oil. Our investment is justified.
Alik - Chief Accountant, GAOM Group
31 Dec 2015