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Enigin News - Ukraine get $130 Million for Energy Efficiency Projects

Enigin News - Ukraine get $130 Million for Energy Efficiency Projects

The European Bank for Reconstruction and Development (EBRD) are providing $130 million in loans to the Ukraine for financing energy efficiency projects.

According to Anders Lund, Ukraine Energy Efficiency Program (UKEEP) Manager, the funds are being provided through Ukreximbank, Forum Bank and OTP Bank, with the average amount of loan expected to be between $2 to $5 million and will be made available for the energy efficiency projects on UKEEP’s portfolio with a payback term of 1-6 years.

The main sectors that have been targeted for the funding will be agricultural industry, processing and chemical industries along with mechanical engineering.

Enigin Distributors have the technology to help commerce and industry save energy and hence money with an excellent return on investment, meaning low interest loans provided by organisation such as EBRD are an even better deal.

The energy saving across all projects is projected to save up to 2.1 million megawatt/hours, equivalent to the annual consumption of the city of one million residents. The green house gas emissions are also predicted to reduce by 0.5 million tonnes a year, almost equal to emissions from around 220,000 cars.

EBRD is the largest financial investor in Ukraine. As of January 1, 2010, has agreed to investments of 4.8 Euros billion covering 194 energy efficiency projects.

To discover how your company can benefit from Enigin PLC's range of energy saving solutions contact your local Enigin Distributors now.

Thursday 23rd September 2010