€165 Million Energy Efficiency Financing for Slovakia

THE EUROPEAN BANK for Reconstruction and Development (EBRD) is adding a further €15 million loan to the €150 million previously in place to help private companies in Slovakia improve energy efficiency.

The loan has been made to the UniCredit Bank Slovakia to finance sustainable energy projects under the bank’s Slovakia Sustainable Energy Finance Facility (SlovSEFF), the loan will be used for on-lending in amongst others the industrial sector to finance efficiency and renewable energy projects.

The EBRD explained: "Sub-borrowers undertaking sustainable energy investments will be eligible for an investment grant of up to 15 per cent of the amount of the loan, upon the completion of the works. In addition they will benefit from free technical assistance in assessing energy saving potential and project implementation. Grant financing of a total of €15 million from the Bohunice International Decommissioning Support Fund has been secured for these purposes.”
Jean-Marc Peterschmitt, EBRD Director for Financial Institutions added: “Promoting efficient use of energy is one of the EBRD’s key priorities. This new loan will support further implementation of energy efficiency and small renewable energy projects in Slovakia, helping housing associations and industrial companies to reduce their energy consumption and improve efficiency.” 

Monika Kohútová, Head of Retail Banking Division added: “Last year UniCredit Bank obtained the Environmental Management Certificate, confirming that the bank actively contributes to the environmental protection. The cooperation with the EBRD opens new opportunities to finance the energy saving projects in housing and industrial enterprise sectors in compliance with the policy of UniCredit Bank. The non-repayable benefits, the free technical support as well as the possibility to obtain the Energy Certificate, represent significant incentives to design and implement energy saving projects.”  

SlovSEFF was launched in 2007, when the EBRD provided €60 million through four local partner banks with the aim of encouraging Slovak enterprises to make better use of energy resources.

Following the high demand for the funds, in 2010 the Bank extended the facility by additional €90 million and to date the EBRD has financed over 350 sustainable energy projects in Slovakia under the SLOVSEFF.

Picture by Chris Yunker

Wednesday 26th January 2011

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