Energoinvest District Heating Project

Location:

Russia

Project number:

45921

Business sector:

Municipal and environmental infrastructure

Notice type:

Private

Environmental category:

B

Status:

Cancelled

PSD disclosed:

06 Feb 2014

Translated version of this PSD: Russian

Project Description

The EBRD is considering providing financing to Energoinvest LLC, a district heating services provider in  St Petersburg (the “City”) to build new and acquire existing district heating infrastructure with a view to continue operations.

Transition Impact

Transition impact is expected to be achieved through:

  1. demonstration of successful private sector operations in the district heating sector aimed at improved operational, technical and financial performance, including service delivery and transparency;
  2. supporting the expansion of a specialist private operator in a sector which is currently dominated by public companies; and
  3. setting standards for corporate governance and business conduct (i.e. introduction of IFRS reporting, Environmental and Social Action Plan).

The Client

LLC Energoinvest is a private company operating in St Petersburg. The Company provides district heating services to both residential and industrial customers in the City.

EBRD Finance

Senior loan of up to RUB 800 million to the Company.

Project Cost

RUB 1 billion. 

Environmental Impact

The proposed project has been categorised B in accordance with the 2008 EBRD Environmental and Social (E&S) Policy, as the potential impacts are expected to be site specific and readily identifiable and addressed through mitigation measures.

The environmental and social due diligence for the project, which is ongoing, includes an independent third party environmental and social audit to assess the Company’s management capacity and systems to manage environment, health, safety and labour issues in its operations and an analysis of the potential (future) E&S impacts and benefits. It will also assess the Company’s ability to carry out the project in compliance with the Bank’s Performance Requirements.

An Environmental and Social Action Plan (ESAP) will be prepared for the project, and a Stakeholder Engagement Plan will be developed that will include a grievance mechanism. Information on environmental and social performance and a summary of the agreed Action Plan will be released to stakeholders.

Technical Cooperation

None.

Company Contact

Hadley Trainis
Tel: (812) 363-28-12
Email: hadley.trainis@gmail.com

 

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

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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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