Project number:


Business sector:

Municipal and environmental infrastructure

Notice type:


Approval date:

24 Jul 2001



PSD disclosed:

12 Jul 2001

Project Description

First MPF consisted in a USD 50 million multi-project facility (MPF) signed in November 1996 with Dalkia, the energy-services arm of Véolia Environnement, with the aim of establishing companies providing energy services with a view to improving energy efficiency in the EBRD's countries of operations.
After an extension of EUR 100 million in 2001, a further extension of EUR 150 million is to be considered by the Board in its meeting of 15th November 2005.

Transition Impact

The MPF supports and facilitates the private provision of energy services in the EBRD's countries of operations; thus it contributes to introducing more efficient management skills and to address the urgent need for energy efficiency throughout the region.

The Client

Dalkia, part of Véolia Environnement, has been developing its energy service activities for more than 60 years. It is one of the world's leading thermal management and energy service companies.

EBRD Finance

Estimated EUR 450 million over the next five years.

Project Cost

The MPF’s investment programme indicates a total investment requirement of EUR 250 million over the next five years.

Environmental Impact

The facility has been classified as C/1, requiring an assessment of Dalkia's corporate environmental management policies and procedures. Dalkia is required to implement the Bank’s Environmental Procedures for Multi-Project Facilities which require Dalkia to conduct environmental due diligence on all project companies to be financed through the Facility. Depending on the nature of the project company, this may include environmental audits, environmental analyses or, in the case of new developments, EIAs. Project companies will be structured to meet national environmental, health, safety and labour standards and EU environmental requirements. A summary of the due diligence undertaken and any proposed mitigation measures (such as Environmental Action Plans) will be provided to the Bank prior to EBRD's commitment to invest in each project company. In addition, annual environmental reports will be submitted to the Bank on the environmental status of all project companies.

Technical Cooperation


Company Contact


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

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Text of the PIP

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