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Making east European breweries more energy efficient
€10 million EBRD loan to fund innovative Danish programme
The European Bank for Reconstruction and Development is lending €10 million to fund a Danish-led programme to cut the excessive amount of energy consumed during the production of beer in eastern European and Russian breweries.
The seven-year loan to Denmark's Danfoss Solutions A/S will finance investment in energy-efficiency projects in the brewery sector, particularly in Poland and Russia, where energy consumption by industrial companies is significantly higher than in western plants.
This should allow breweries to reduce utility bills by up to 20 per cent and permit the strong environmental benefit of lower greenhouse gas emissions. The cost of the improvements will be repaid out of energy savings, making them entirely self-financing.
This is the first EBRD loan to directly finance industrial energy efficiency investments in our region, said Peter Reiniger, head of the Energy business group at the EBRD. The Bank's financing will help Danfoss make cost-effective and highly beneficial improvements in the efficiency of breweries across the region, under an innovative contractual structure, he added.
Jens Krogh, Managing Director of Danfoss Solutions, said: "The Bank's knowledge of the region, expertise in energy efficiency financing, and financial involvement in the brewery sector make it an optimal partner for this financing."
Danfoss Solutions has been involved in over 30 projects worldwide to reduce energy consumption in the food processing and beverage industries. It is a wholly owned subsidiary of Danfoss A/S, Denmark's largest industrial group with nearly 17,000 employees globally. Danfoss A/S exhibits a high level of environmental consciousness and is a world leader in research, development and production of mechanical and electronic components and controls.
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