Project number:


Business sector:

Manufacturing and Services

Notice type:


Environmental category:


Approval date:

09 Dec 2003



PSD disclosed:

10 Oct 2003

Project Description

The proposed project is to establish a new private sector energy service company (ESCO) in Ukraine, known as Energy Alliance. Energy alliance will be majority owned by the Western NIS Enterprise Fund, along with the Gostomel Glass group and Turbo-Spektr, a local engineering consultancy.
Energy Alliance will finance and develop co-generation projects for industrial clients in Ukraine. The Bank's loan will be used by Energy Alliance to finance the purchase of the co-generation equipment.

Transition Impact

Transition impact will derive from enabling private sector industrial companies to save energy on a sustainable basis using off-balance sheet financing and with state of the art technologies they do not themselves have the resources to implement. This will also have an important demonstration effect which should encourage other ESCOs to establish operations in Ukraine.

The Client

Energy Alliance

EBRD Finance

US$ 10 million loan under 'A/B' structure. 'B' loan of US$ 5 million to be syndicated to a commercial bank.

Project Cost

US$ 13.34 million

Environmental Impact

Energy Alliance will be required to ensure clients comply with EBRD environmental procedures and that its investments are in compliance with applicable Ukrainian environmental, health and safety legislation and submit an Annual Environmental Report to the EBRD.

Technical Cooperation


Company Contact

CEO: Maxim Burtovy
Tel: 380-44-490-55-80
Tel: 380-50-355-42-20 (mob)

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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