News

EBRD Project in Georgia Now Registered under Kyoto Protocol’s CDM

EBRD31 January 2013: The European Bank for Reconstruction and Development (EBRD) has reported that an energy efficiency project will allow Georgia's largest power plant to sell an estimated 5.8 million carbon credits under the Kyoto Protocol's Clean Development Mechanism (CDM) over ten years.

Enguri Hydro Power Plant, Georgia's largest, provides 40% of Georgia's domestic power supply and through US$70 million in EBRD-financed improvements, has been able to reduce the need to use electricity from fossil fuel power stations, helping Georgia cut imports of natural gas.

Friso de Jong, Carbon Manager, EBRD, welcomed the plant's ability to monetize its carbon dioxide emission reduction potential. The refurbishing of the Enguri plant is the fourth CDM registered project located in Georgia. [EBRD Press Release]