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Qartli Wind Farm
Renewable energy (Environment)
Triodos Groenfonds (Triodos Green Fund) has participated in a syndicated loan arranged by the European Bank for Reconstruction and Development (EBRD) for the first wind power plant in Georgia and the Caucasus region. It is the first renewable energy project of Triodos Groenfonds in the ECCA region (Eastern Europe, Caucasus and Central Asia).
The loan has been provided to Qartli Windfarm LLC for the development, construction and operation of the wind farm. The project will set a benchmark in terms of developing, building and operating a greenfield renewable energy project.
The wind farm will have a total installed capacity of 20.7 MW and an expected annual electricity output of 85 GWh. It will foster low carbon generation and contribute to Georgia’s energy demand, especially during the winter. As the first wind farm in Georgia, it is expected to act as a model for other investments in this sector and support the diversification of the country’s energy resources.
Energy is a necessity in modern life but the current dependence on fossil fuels to provide it has a high environmental and social impact. We believe that a fundamental transition is needed away from a carbon based economy to a renewable one. By lending and investing in this sector we try to stimulate this transition, with our main focus on financing solar, wind and hydro energy.