SLFW - ESCO Jadro Lux

Location:

Croatia

Project number:

49364

Business sector:

Municipal and environmental infrastructure

Notice type:

Private

Environmental category:

B

Approval date:

20 Mar 2018

Status:

Cancelled

PSD disclosed:

11 Dec 2018

Translated version of this PSD: Croatian

Project Description

The EBRD is providing up to EUR 5 million to Jadro Lux (The Borrower) to finance investments into energy efficient street lighting and related infrastructure in the Republic of Croatia.

The Project aims at refinancing short term loans to be incurred for new capital expenditures made in relation with new Street Lighting Energy Performance Contracts (SL EnPC) for the supply and installation of street lighting infrastructure for municipalities.

Project Objectives

The project aims at (i) generating environmental benefits through carbon savings associated to new green solutions, (ii) limiting dependence on energy imports and (iii) supporting alignment with EU Eco Design Directive requiring inefficient street lighting technology to be phased out.

Transition Impact

Green: Transition impact will derive from the promotion of new green solutions based on modern LED technology and modern street lighting management solutions in Croatia.

Resilience: Transition Impact will derive from the promotion of new ways of financing street lighting investments (i.e. refinancing transactions for street lighting projects).

Client Information

JADRO LUX DOO

Jadro Lux, established in Croatia, implements street lighting energy performance contracts in municipalities in Croatia and receives related receivables.

Jadro Lux is owned by a limited liability company in Hungary, which develops and produces LED technology lighting luminaires and implements Street Lighting Energy Performance Contracts through its local subsidiaries - i.e. Jadro Lux in Croatia.

EBRD Finance Summary

EUR 5,000,000.00

EBRD loan amount is up to EUR 5 million.

Total Project Cost

EUR 5,000,000.00

Up to EUR 10 million

Environmental and Social Summary

Categorised B (2014 ESP). The Project will facilitate the introduction of energy efficient street lighting, which will reduce electricity consumption and improve public safety. Environmental and social due diligence was carried out with the assistance of an independent consultant who reviewed the Company's management procedures and the environmental and social risks associated with project implementation. These include electrical safety, working at heights and disposal of decommissioned mercury lamps. As project implementation will be carried out by sub-contractors, the consultants have developed an environmental and social ("E&S") policy for the Company and checklists for contractor screening, E&S risk assessment and monitoring, implementation of which is a condition of the loan agreement.

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

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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