Georgia - Assistance with developing energy efficiency policy and legal framework
The EBRD, with support from the EU and Swedish International Development Cooperation Agency (SIDA), assisted Georgia in developing its first National Energy Efficiency Action Plan (NEEAP) and Energy Efficiency legal framework. This will reduce the country’s energy intensity, allow economic growth and ensure compliance with international commitments. The NEEAP sets out measures Georgia must undertake over the next three years in order to improve energy efficiency while satisfying higher energy demands. It could help unlock up to € 1.37 billion of investments in the next three years, and will enable Georgia to make energy savings of 14 per cent by 2025, compared with a business as usual scenario. It is expected to be adopted in early 2019.
The Energy Efficiency draft Law contains measures such as energy audits and management systems mechanisms, and defines penalties for non-compliance with energy efficiency standards and requirements. The team is also enhancing the expertise and capacity of Georgia’s government officials tasked with implementing the new policy, legal and regulatory regime. To fill the financing gap, the EBRD is planning new activities and programmes to boost public and private sector energy efficiency investments, leveraging on its track record in the country of EUR 243 million of energy efficiency investments in 62 projects since 2006.