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EBRD invests in energy saving in Romania
Dalkia Romania is to increase reliable and low cost heating services across Romania, thanks to a EUR 11.7 million financing package from the European Bank for Reconstruction and Development (EBRD). Dalkia Romania is part of Dalkia, the energy subsidiary of France’s Vivendi Group and a European leader in the management of heating equipment.
"Financing of energy-saving investments is geared towards reducing energy wastage and limiting environmental pollution in a region characterised by high energy consumption," said Johan Bastin, the EBRD’s Business Group Director for Infrastructure. Dalkia Romania is the Bank's twelfth private energy service company (ESCO) in the region.
The level of energy intensity in Romania - the ratio of total energy consumption to the gross domestic product (GDP) of the country - is at least three times that of the European Union.
The EBRD’s financing will be provided in the form of a EUR 9.3 million loan and a EUR 2.4 million equity stake. It will enable Dalkia Romania to invest in energy-saving equipment, renovations, technology improvements and energy control systems. This will allow the company to improve the operating and maintenance standards of Romania’s energy installations, particularly in the country’s public sector enterprises.
Dalkia Romania is also committed to reducing the energy consumption of its clients, while providing a guaranteed level of service in heating and energy-related needs. The financial savings derived from these measures will enable customers to pay back the initial investment.
"By receiving a guaranteed level of heat, many Romanians will benefit from an increased level of comfort in their daily lives," said Salvatore Candido, Director of the Romanian Country Team.
Dalkia Romania is the fifth ESCO of the Dalkia group to benefit from EBRD financing under a multi-project facility (MPF) which was signed in 1996. Investments with Dalkia have also been made to ESCOs in Hungary, Lithuania, Poland and the Slovak Republic. Dalkia has been present in Romania since 1992 and is the first private operator of district heating systems in the country.
ESCOs are a growing source of finance for municipalities and companies in the region. ESCOs implement energy conservation measures at no initial cost to the customer to pay back the initial investment. By investing in energy efficiency projects, ESCOs can complement the need for municipal infrastructure loans, thus meeting the EBRD’s goal of introducing public-private partnerships into municipal infrastructure. ESCOs also provide financing for industrial restructuring by providing energy-saving investments in manufacturing processes.
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