Project description
and objectives:
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The EBRD is considering a loan of 7 million euros to Bulgaria’s Fund for Energy and Energy Savings for the purchase of receivables under energy saving contracts. The finance will enable the Fund to develop the market for ESCOs (Energy Service Companies) and energy saving contracts in both the industrial and public sectors including kindergartens, schools, hospitals and other municipal buildings.
ECSO contracts will be implemented by Enemona AD, a Bulgarian construction and engineering company with main activities in the sectors of engineering, turn-key project implementation in power engineering, construction and civil engineering, as well as energy efficiency services, power generation and utilities.
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Transition impact:
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The project transition impact will derive from the following key areas:
Supporting the development of a market for energy saving and energy efficiency measures in Bulgaria by providing long term financing;
Establishing a replicable model for the implementation of ESCO projects;
Encouraging private sector investors to develop ESCO contracts in Bulgaria and promote additional private sector financing of such projects.
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The client:
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The borrower is the Fund for Energy and Energy Savings (the “Company”), a joint-stock special investment company listed on the Bulgarian Stock Exchange. Enemona AD is the majority shareholder of the Company.
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EBRD finance:
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Senior loan of EUR 7 million to the Company.
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Total project cost:
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EUR 11.2 million.
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Environmental impact:
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The Project has been screened as C/0. The proposed pipeline will result in energy efficiency gains and the projects will be structured to meet National and EU environmental standards. Some environmental impacts can be expected associated with the construction process, albeit based on the initial review these are unlikely to result in any significant impacts. The Fund will be required to provide an Annual Environmental, Health and Safety report to the Bank and implement environmental procedures.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Prokopi Prokopiev, Chairman of the Board of Directors
Tel.: +359 2 8054880
E-mail: pdp@eesf.biz
Website: www.eesf.biz
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EBRD contact:
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Borislava Gabrovska, Operation Leader: gabrovsb@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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