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€75 million for sustainable energy in Slovak Republic
New EBRD credit line to promote better use of resources
A €60 million credit line is being set up by the EBRD to finance projects in
the Slovak Republic which increase energy efficiency, cut energy consumption
and generate more energy from renewable sources. Under the new Sustainable
Energy Financing Facility (SEFF), loans will be provided to private Slovak
banks for on-lending to private companies, housing organisations and
individual borrowers for relevant projects. The EBRD finance is complemented
by a €15 million grant from the Bohunice International Decommissioning Support
Fund.
Loans to private companies will be used for energy efficiency measures such as
upgrading and modernisation of production facilities and small scale
generation of electricity and heat from renewable sources. Housing
organisations and residential costumers may receive loans for the installation
of high efficiency gas boilers, heat pumps, double glazing and insulation as
well as for urban renewable energy systems such as, for instance, solar
boilers and wind turbines.
EBRD Vice President Brigita Schmögnerová said the new credit line will help
the Slovak Republic make better use of energy resources at a time when energy
efficiency and energy security are being recognised as a key challenge for
sustainable development. The EBRD-financed facility will help the country
implement its energy strategy and minimise the impact of the closure of units
1 and 2 of the Bohunice nuclear power plant.
The Bohunice International Decommissioning Support Fund was set up in 2001 to
assist with the decommissioning of the two VVER-reactors at Bohunice V1 to
which the Slovak Republic has committed itself under its EU accession treaty.
Unit 1 was shut down at the end of 2006 and unit 2 will be closed next year,
while the remaining two reactors at Bohunice V2 will remain operational.
Contributors to the fund, which is administrated by the EBRD’s Nuclear Safety
Department, are the European Community, Austria, Denmark, France, Ireland, the
Netherlands, Spain, Switzerland and the United Kingdom.
The EBRD has launched similar programmes in other European countries which
proved to be highly successful. The Bank is also promoting energy efficiency
through a variety of measures ranging from energy audits to tailor-made loans
for efficiency upgrades.
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