Energocredit Georgia - Frequently Asked Questions

Where do I get the application form, is there any deadline for submission?


You can easily download the application here. There is no deadline but we recommended you to apply as soon as possible.

How and where do I submit my application?


You can submit your application and other documents via e-mail or hand it in personally at our office.

How long will it take to assess my application?


Usually it takes up to 5 working days to evaluate your application and decide on the next steps.

How long can I apply for the Incentive Scheme?


The Incentive Scheme will be available until April 2016 and phases out after this date. For details, please consult the Incentive Payment section on this website. 

Is some minimum equity contribution required?


No

What kind of projects can be financed under Energocredit Georgia?

Two types of projects are eligible for financing: energy efficiency and renewable energy projects. Efficient energy production or efficient use of energy resources is understood under energy efficiency. Eligible renewable energy projects include (but are not limited to) the use of wind turbines, run-of-river hydropower plants, solar-thermal water systems etc. For more detailed information please see Eligibility

Which Georgian financial institutions participate in Energocredit Georgia?

There are currently four Partner Banks participating in the facility:  Bank of GeorgiaTBCBank Republic and Credo . Other Georgian financial institutions will join the facility soon.

What is the maximum loan amount under Energocredit Georgia?


Under Energocredit Georgia corporate loan the amount can reach USD 2,5 million. For SMEs and residential clients the amounts are smaller. However, if you have a larger project in mind, you can still send an application. In case your project is eligible for the facility, Energocredit Georgia can advice and guidance on steps to carry out the project.

What are the current loan conditions under Energocredit Georgia Programme? 


Each Partner Bank has different loan conditions, which mainly depends on market interest rates, project size, company debt capacity, company's collaterals and other factors. Please contact us to study your individual case.

How profitable are energy efficiency projects?

Depending on the project, investments may have a payback period of less than one year, although typical payback time is 3-5 years.

How does Energocredit Georgia deal with sensitive information of the company?

Regarding the financial data of the company, only the banks will access this information and regular bank confidentiality is applied. Our technical consultants in the project will in their turn assess technical aspects of the project and the corresponding information will be protected by project confidentiality rules.

Can municipalities also receive financing for energy efficiency or renewable energy projects? 


No, Energocredit Georgia focuses exclusively on private companies (min. 51% of private ownership) and individual borrowers.

We are a company that could probably be more energy efficient, but our knowledge in this regard is low. How can you help us? 


As a first step, we recommend you to prepare your own list of possible areas of improvement. Our experts will then readily discuss this list with you and help you to decide on further steps and provide necessary assistance. For example, Energocredit Georgia experts can visit your company (free of charge) to make a detailed assessment of the potential.

What does Energocredit Georgia Energy Audit contain?

Energocredit Georgia's Energy Audit is aimed at finding the best and most profitable investments that a company can undertake to increase its energy efficiency and reduce its costs. It provides a detailed analysis of potential energy efficiency measures and calculates their technical and financial feasibility. The Energy Audit is then used as a basis for approving a loan under Energocredit Georgia.

Are there any types projects excluded from the Programme? 


Please refer to Environmental Exclusion and Referral List of the EBRD for an overview.

If I have a potential project, how Energocredit Georgia experts can support me? 


Experts can conduct an Energy Audit to the targeted project, which is already defined as eligible, and assist in preparing its Feasibility Study. The technical assistance is available free of charge to borrowers!
 Find out more about free technical assistance here.