Romanian Companies Honored for Energy Efficiency Efforts

15 Romanian companies have been honoured by the European Bank for Reconstruction and Development (EBRD) and the European Union (EU) for promoting energy efficiency.

Included in the 15 are a cereal grower, a car-servicing company, a manufacturer of antique-style furniture, a fruit and vegetable processor, several bakeries, a paper producer, and south-eastern Europe’s largest oil and gas producer are among the
 
The EU-EBRD Sustainable Energy Excellence Awards, held in Bucharest, recognised Romania’s most successful sustainable energy projects financed by the EBRD and the EU.
 
“We are celebrating Romanian companies which have demonstrated time and again that investment in energy efficiency and renewable energy can bring economic, environmental, energy security and social benefits to Romania,” said James Hyslop, EBRD Director for Romania. 
 
“Economic benefits arrive in the form of lower utility costs for investors; environmental benefits in the form of lower CO2 emissions; security of energy supply through lower energy demand, or by meeting demand with local renewable energy resources; and social benefits in the form of jobs in the growing sustainable energy sector,” he added.
 
To promote sustainable energy in the private sector, the EBRD and the EU have teamed up with Romanian banks to provide finance and advice to companies investing in energy efficiency and small-scale renewable-energy projects.
   
So far, Romanian banks have on-lent €112 million of EBRD finance to almost 300 companies for financing energy efficiency improvements with a combined value of €156 million. The finance is supported by technical advice and financial incentives for SMEs funded with an EU grant.
 
These projects led to annual energy and CO2 savings of 1,786 GWh, the equivalent of the household electricity consumption of the city of Bucharest for an entire year, or 394 thousand tonnes of CO2, the equivalent of taking 123,690 passenger cars off the roads for a year.

Source: EBRD.

Monday 23rd March 2015


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