Luxembourg and Chisinau, 22 October 2024 – The Green for Growth Fund (GGF), advised by Finance in Motion, is excited to announce the signing of a Memorandum of Understanding (MoU) with Purcari Wineries, one of the largest wine and brandy groups in the Central and Eastern Europe and the largest wine exporter from Moldova, delivering to over 40 countries.
The MoU sets the stage for a high-value strategic partnership, aligning with GGF's mission to mitigate climate change and promote sustainable economic growth and with Purcari Wineries' commitment to integrate sustainable development objectives into its strategy and through sustainable practices to foster biodiversity and safeguard water and soil.
The vision of sustainability, environmental responsibility, and climate adaptation is at the heart of this partnership, making it a driving force for a more sustainable wine production in Moldova and beyond. It will leverage on the technical support and expertise to be provided by the Fund along with dedicated financial resources to further enhance the Group’s capacities to implement energy-efficient systems, renewable energy solutions, and eco-friendly practices across its operations.
“By aligning with Purcari’s sustainability goals, we are advancing our mandate to promote sustainable investments and climate action in the Central and Eastern European region. This cooperation is part of our commitment to support Moldova’s green transition, ensuring its energy independence by providing access to finance and technical expertise” said the Chairperson of the GGF Board of Directors, Simon Gupta, who signed the MoU in Moldova. “We take great pride in partnering with Purcari Wineries to jointly enable a greener and more sustainable future for the Group, the story of which is a true testament to the power of tradition, innovation and resilience.”
“We are truly honored to partner with such a reputable fund as the Green for Growth Fund. This collaboration aligns seamlessly with our Purcari 2027 strategy, where we aim to enhance sustainability through initiatives like modern water treatment, optimizing resource consumption, and investing in ecological viticulture. With GGF's support, we will gain access to vital funding and expertise, facilitating our transition to greener operations. Our commitment extends beyond producing exceptional wines; we are dedicated to preserving our wine heritage for future generations while fostering cultural and environmental stewardship in our communities, mentioned Alex Filip, Deputy CEO of Purcari Wineries PCL.
ABOUT THE GGF
The Green for Growth Fund (GGF) invests in measures to reduce energy use, CO2 emissions, and improving resource efficiency in 19 markets across Southeast Europe, the Caucasus, Ukraine, Moldova, the Middle East, and North Africa. It finances renewable energy projects, corporates, municipalities, and financial institutions, supported by its Technical Assistance Facility.
Initiated in December 2009 by Germany’s KfW Development Bank and the European Investment Bank, with financial support from the European Commission and more institutions, the GGF includes a diverse investor base of donor agencies, international financial institutions, and private investors. Finance in Motion GmbH and MACS Energy & Water GmbH provide advisory services. For more information, visit www.ggf.lu.
About Finance in Motion
Finance in Motion is a global impact asset manager focused exclusively on sustainable development in emerging markets and developing economies. The company structures, manages, and advises impact investment funds that bring together public and private investors to address climate change, strengthen biodiversity conservation, foster the sustainable use of natural resources, improve livelihoods, and promote economic opportunities.
For more information, please visit us at: www.finance-in-motion.com
You can also follow us on Twitter @financeinmotion and on LinkedIn
About Purcari Wineries PCL
Purcari Wineries Public Company Limited (with its brands: Purcari, Crama Ceptura, Bostavan, Bardar, Domeniile Cuza and Angel’s Estate) is one of the largest wine and brandy groups in the Central and Eastern European (CEE) Region. The Group manages around 1,850 hectares of vineyards and operates seven production platforms in Romania, Moldova, and Bulgaria. Purcari Wineries is the leader in the Premium wine segment in Romania with a 30% segment share and the largest wine exporter from Moldova, delivering to over 40 countries. Founded in 1827, Chateau Purcari is the most awarded winery of the CEE Region at Decanter London 2015-2023, as well as among the best ranked wineries on Vivino, with an average score of 4.1 out of 5.0, based on approximately 100,000 reviews. Since February 2018, the Group is listed on the Bucharest Stock Exchange under the ticker WINE. Purcari Wineries is led by Victor Bostan, a veteran with more than 30 years of experience in the wine business and is endorsed by top institutional investors such as: Horizon Capital, Fiera Capital, Conseq, East Capital and Norges Bank.
Media contact GGF
Nusha Westhoff
Director Marketing & Communications
Mobile: +49 69 271 035-789
Email: press@ggf.lu
Media contact Purcari Winery
Eugeniu Baltag
Investor Relations
Phone: +373 69694249
Email: investor.relations@purcari.wine