Manufacturing and Services
09 Dec 2003
10 Oct 2003
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 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.
US$ 10 million loan under 'A/B' structure. 'B' loan of US$ 5 million to be syndicated to a commercial bank.
US$ 13.34 million
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.
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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