Enigin Update - $200M Investment Energy Efficiency Potential for Armenia
THE IFC revealed in their report, “Energy Efficiency: A New Resource for Sustainable Growth” Armenia’s industrial sector could save 14.5 percent of energy costs through improving energy efficiency.
IFC (International Finance Corporation) Regional Head for the Caucasus, Thomas Lubeck, revealed the extent of potential savings at the Energy Efficiency Expo 2011, being held in Yerevan today through to Friday.
Lubeck, told PanARMENIAN.Net “When enterprises use old or obsolete equipment, they have higher operating costs and energy expenditures. They also waste significantly more energy, thus contributing to climate change.
“IFC’s priority is to help companies in the region to become more energy efficient and competitive, and the Armenia Energy Efficiency Expo provides a good opportunity for companies to learn about the latest energy efficiency technologies.”
The IFC, part of the World Bank group, surveyed 100 companies for the report, revealing that the firms plan to invest over $35 million in energy efficiency over the short term, representing a market potential of more than $200 million in Armenia.
Enigin Distributors have the energy saving products and solutions from Enigin to enable industry and commerce to save substantially on energy use and costs.
The Energy Efficiency Expo is funded by IFC Armenia Sustainable Energy Finance project. IFC Armenia Sustainable Energy Finance Project is run in collaboration with the Austrian Ministry of Finance.
Picture of Mount Ararat fro Yerevan by Michael O'Donnell
