NEFCO allocates EUR 6.7 million for energy saving projects
(Thomson Reuters ONE) - The Nordic Environment Finance Corporation, NEFCO's Board ofDirectors has approved an allocation of EUR 6.7 million for financingenergy saving projects in Russia and Ukraine. The allocation hasboosted the Facility for Energy Saving Credits (ESC) capital base toEUR 12.5 million. According to a preliminary prognosis carried out byNEFCO's environmental unit, the allocation will reduce carbon dioxideemissions by some 86,000 tonnes per year.NEFCO's Facility for Energy Saving Credits was established way backin 1997 to grant finance for municipal energy saving projects.However, starting in 2006, NEFCO began to grant soft loans for energysaving measures in municipally owned buildings in Russia. InSeptember, the Ukrainian government signed a new framework agreementwith NEFCO, which paves the way for similar projects in Ukraine."The demand for these credits has been strong in Ukraine where thehigh gas prices have compelled municipalities to shop around forcheaper and cleaner alternatives, and we are looking forward tofinancing the first municipal energy saving projects over there nextspring," says NEFCO's Senior Manager, Elisabet Paulig-Tönnes .At present, some EUR 6 million has so far been committed to theenergy saving credit facility. Under the terms of the facility, NEFCOmay finance up to 90 per cent, or a maximum sum of EUR 260,000 of theinvestment costs in projects, which receive funds from this creditprogram. The repayment of the loan is directly tied to the savings ofthe investment.In practice, the projects are intended to finance energy savingmeasures such as upgrading boilers, improving the insulation ofwindows and doors, as well as installing balanced heating systemswith thermostat equipped radiators. NEFCO has prioritised these kinds of municipal energy savingprojects, which are being implemented at schools, day-care centres,hospitals and sports halls. A single energy saving project in aRussian municipality is capable of saving up to two million roublesper year - money that can be used for other municipal investments.In November, Russia's President Dmitry Medvedev signed a new law,which requires the country's municipalities to explore new ways toimprove energy efficiency at the local level. The law will stimulatedemand for financing new energy saving projects in manymunicipalities where NEFCO has previously operated.According to the International Energy Agency (IEA), Russia couldreduce its primary energy consumption by around 45 per cent byinvesting in better energy efficiency measures.For more information, please contact:Elisabet Paulig-Tönnes, Senior Manager, NEFCO, +358 50 350 2141Mikael Sjövall, Communications Manager, NEFCO, +358 50 3535 045This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 10.12.2009 - 14:34 Uhr
Sprache: Deutsch
News-ID 9469
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 447 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"NEFCO allocates EUR 6.7 million for energy saving projects"
steht unter der journalistisch-redaktionellen Verantwortung von
NEFCO (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
