"Tegeta" Plans to Complete Installation of 70 EV Charging Stations by the End of 2025

In an effort to develop a nationwide network of electric vehicle (EV) chargers, Tegeta Holding plans to complete the installation of 70 charging stations by the end of 2025. This initiative was made possible by the issuance of green bonds worth 20 million GEL, with support from the Asian Development Bank (ADB), according to information shared by BMG.

"Investing in green bonds continues, and as part of the 20 million GEL issuance, we are investing solely in green initiatives. Specifically, this is reflected in the expansion of the electric charging infrastructure network across the country, aimed at simplifying the ownership and use of fully electric cars and heavy equipment. A total of 70 electric chargers will be installed by Tegeta Holding, and our holding's total investment in zero-emission transport in Georgia amounts to 100 million GEL," - said Manana Khinashvili, Head of Investor Relations at Tegeta Holding.

It has been one year since the issuance of green bonds in partnership with the ADB, and during this time, Tegeta Holding has imported around 400 electric cars, which were sold on the local market. These efforts represent a significant step forward in reducing emissions in the country.

As for the 70 chargers, their procurement has been completed, and installation is currently underway across all regions of Georgia to enhance electric vehicle mobility. The installation process will proceed gradually, with the completion of the charging station network planned by the end of next year.

Source: bm.ge