Honeywell Multi Project Facility

Location:

Regional

Project number:

3097

Business sector:

Manufacturing and Services

Notice type:

Private

Environmental category:

C

Approval date:

17 Dec 1996

Status:

Completed

PSD disclosed:

15 Dec 1996

Project Description

A multi-project facility of up to US$ 25 million in favour of Honeywell Inc. to establish, acquire or expand and operate energy service companies (ESCOs) in the EBRD's countries of operations.

The main project objective is to support the development of Honeywell's ESCO investment programme, which will enable clients in the public and private sectors to use ESCOs to realise energy savings which they may have difficulty financing from their own resources.

Transition Impact

The project is expected to: (i) develop the energy service sector in the EBRD's countries of operations; (ii) increase the availability of resources to public and private sector entities which are unable to raise significant debt themselves; and (iii) reduce the energy requirements for the countries in which investments are made.

The Client

Honeywell Inc. is a multinational company which manufactures and markets building control systems, industrial process control systems and space and aviation systems. Honeywell is the global market leader on energy control systems for buildings and industrial processes. In 1995 it posted a net income of ECU 267 million on sales of ECU 5,385 million. Forty per cent of Honeywell's sales are within energy control systems.

EBRD Finance

Four-year multi-project financing in the form of an equity facility of up to US$ 25 million for investments in Energy Service Companies (ESCOs).

Project Cost

Honeywell's investment programme indicates a total investment requirement of US$ 150 million (ECU 120 million equivalent).

Environmental Impact

C/0: The project does not require an environmental analysis or an environmental audit. Honeywell is required to conduct environmental due diligence on all ESCOs financed through this facility in a manner satisfactory to the Bank. An annual environmental report will be submitted to the EBRD on the investee companies encompassed by the facility.

Technical Cooperation

None.

 

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

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.