Energy efficiency projects

Project Summary Documents

Project Summary Documents (PSDs) are disclosed for each project prior to Board consideration. They contain project descriptions, financial details, client information, environmental issues, tender guidelines, and contact details. PSDs for private sector projects are disclosed at least 30 days prior to Board consideration and for state sector projects, at least 60 days.

Project Summary Documents

Signed projects

Board approval is the final stage in the project approval process. After Board approval, the EBRD and the client sign the deal and it becomes legally binding. Signed project lists reflect year-end data.

Signed projects  (0.1Mb)

Case studies

Investing in energy efficiency in Moldova -Donor Report 2009

Moldova’s energy sector is marked by a severe lack of primary energy resources. The country depends heavily on energy imports, mainly from Russia and Ukraine. Moldova is also nine times more energy and carbon-intensive than the EU average (with current prices). With rising energy prices and a global financial crisis hitting developed and developing countries alike, Moldova has turned to the EBRD to invest in energy efficiency.

In 2008 the EBRD undertook a study to identify the most economically viable projects in renewable energy and energy efficiency in Moldova. The study was funded by the Czech Republic, a former recipient of donor funding that became a donor itself in 2007.

The study found that all sectors of the Moldovan economy could benefit from investment in energy efficiency. The greatest potential lies in the residential sector, which is the highest consumer of heat energy and electricity and could achieve energy savings of up to 45 per cent. However, policy and regulatory frameworks would need to be strengthened before any investment could take place.

The public sector, including schools, hospitals and leisure centres, can also make huge energy savings. However, most municipalities lack the finance to modernise and maintain old public buildings and all too often they are not even aware of their energy “hot spots” – those buildings with the most flagrant energy waste.

The EBRD put the findings of the Czech-funded study to good use and in 2009 started to develop a €20 million Sustainable Energy Financing Facility for Moldova. Backed by the European Commission, the new Facility will lend to banks in Moldova through dedicated credit lines. These banks will then use the loans to finance energy efficiency and renewable energy projects in the industrial sector, small and medium-sized businesses, commercial properties and heat-generating renewable energy projects.

Investing in energy efficiency in Ukraine - 2008

Energy intensive Ukrainian companies use three times as much energy to produce the same output as companies in the European Union. But how long can they afford to do so with energy prices rising each year?

The potential for energy efficiency gains in Ukrainian companies is huge, but the market for such investments is still in its infancy. Enter the EBRD’s Energy Efficiency Programme for Ukraine (UKEEP) and the benefits of investing in energy efficiency will be obvious.

UKEEP is a €150 million credit facility developed by the EBRD for Ukrainian participating banks to finance energy efficiency and renewable energy projects in the private sector. With donor support from Austria and Sweden, UKEEP is turning the Ukrainian private sector from energy intensive into energy efficient.

Bank Forum of Ukraine is the third local bank to have joined the facility in January 2008. It received a US$ 25 million loan from the EBRD’s UKEEP to on lend to private sector industrial enterprises. These companies can apply for long-term loans of up to US$ 5 million to finance investments in energy efficiency technologies and renewable energy projects. Such projects help businesses remain competitive by reducing their energy costs. They also contribute to cutting down emissions of greenhouse gases, thus helping to mitigate the effects of climate change.

Long-term financing is important to finance energy efficiency investments and until recently industrial companies in Ukraine could only get short-term finance and usually for trade-related or working capital financing rather than investment or project financing. The EBRD’s UKEEP is one of the main sources of long-term financing for energy efficiency projects in Ukraine.

The EBRD has a long history of supporting Bank Forum, one of the fastest growing commercial banks in Ukraine. Since 2001 the Ukrainian bank has benefited from the EBRD’s credit line for small and medium-sized enterprises (SME), followed by direct SME loans in 2005 and syndicated and mortgage loans in 2007.

Saving energy in Odessa -Annual Report 2008

A major seaport and tourist destination, Odessa, Ukraine’s fourth largest city, has embarked on a project to revamp its district heating. The city’s district heating system is plagued by inefficiency and excessive distribution losses because of a lack of maintenance in recent years. Over 40 per cent of the district heating system’s network is 40 years old. Moreover there are no meters in the district heating network and calculations of heat sales, boiler efficiency, and network losses are purely theoretical.

District heating systems in Ukraine are also a large source of greenhouse gas emissions, accounting for 20 per cent of carbon dioxide and 81 per cent of methane emissions produced by fossil fuel combustion in the country.

The EBRD responded to Odessa’s District Heating Company request for finance with a €21.9 million loan to improve services and increase energy efficiency savings.
The finance will cover the costs of a series of measures aimed at reducing natural gas consumption by the district heating system. Odessa District Heating Company will also begin introducing meters to measure the actual consumption of heat by customers and collect payments on this basis. Such a system will provide incentives for customers to invest in energy-saving technologies in their homes and businesses.

EBRD donors will cover some project costs to make it affordable for the company and its customers. The governments of France, Sweden and the United Kingdom have committed €0.8 million to finance, among other things, the feasibility study and implementation support for the project.

Odessa’s district heating rehabilitation is the EBRD’s second contribution to improving the efficiency of district heating in Ukraine. The city of Cherkasy in central Ukraine received €11.2 million in January 2008 to upgrade its district heating system. Improvements in the old network are particularly urgent in Ukraine at a time when gas prices have been rising steeply and are reaching the levels paid by Western and central European countries.
Source: Annual Report 2009