Green for Growth Fund helps Georgian travel company to buy energy efficient tourist buses

23-02-2021
Photo: European Union
Photo: European Union

A Georgian travel company has bought new green tour buses with the support of the EU, saving more than 30 MWh of energy and reducing its CO2 emissions by over 20 tons per year, bringing down costs and pollution.

Travel company SEA LLC received a loan of €130,000 provided by Bank of Georgia, a long-standing partner of the EU4Energy Green for Growth Fund (GGF), to purchase modern, double-decker tour buses.

“Our business was doing well, but we knew that we needed to be more sustainable. We wanted to purchase more modern, fuel-efficient tour buses but didn’t have the capital. That’s why we reached out to Bank of Georgia as they are known for providing green finance in the country, says the company’s owner Germane Chelidze.

With new buses, the company has seen a big decrease in the energy used. Thanks to the investment, the business is not only saving money, but also making a positive environmental impact. Despite having no business due to the COVID-19 crisis, the company prepares to welcome tourists back as soon as country opens.

Part of the EU4Energy Initiative, the Green for Growth Fund, invests in measures designed to cut energy use and CO2 emissions, and improve resource efficiency in 19 markets, including in the European Eastern Neighbourhood Region. The fund provides such financing directly to renewable energy projects, corporates and municipalities or indirectly via selected financial institutions.

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