ENVIROS as a project consultant in €90 mil additional financing for SLOVSEFF

The EBRD is increasing its commitments to promote sustainable energy projects in Slovakia with a new €90 million funding under the existing Slovakia Sustainable Energy Finance Facility (SLOVSEFF, now SLOVSEFF II) to ensure continuous implementation of energy efficiency and small renewable energy projects.

The new €90 million will be on-lent to the four participating banks as well as to new partner institutions in Slovakia. The proceeds of the EBRD funds will be used to finance efficiency and renewable energy projects implemented in the industrial and residential sectors.

Credits are provided in the amount ranging from 20,000 to 2,000,000 euros. Sub-borrowers undertaking sustainable energy investments will be reimbursed by 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 €15 million from the Bohunice International Decommissioning Support Fund has been secured for this purpose. The above-mentioned technical assistance is provided by the ENVIROS, s.r.o. company, which is the project consultant.

Figure – SLOVSEFF II Launch Event, 2 March 2010, Bratislava, Slovakia. From the left: Jan Pejter, Consultant and Energy Auditor, ENVIROS, s.r.o., Prague, Czech Republic; Miroslav Jarábek, Department of Energy and Raw Material Policy of the Ministry of Economy of Slovakia; Brigita Schmögnerová, Vice-President, EBRD; François Lecavalier, EBRD Director for the Slovak Republic; Kees Ketelaar, Senior Manager, Nuclear Safety, EBRD; Michalis Kiourktsoglou, Principal Banker, Financial Institutions, EBRD

Kees Ketelaar	François Lecavalier, Michalis Kiourktsoglou	Brigita Schmögnerová

“Through this project the EBRD is reinforcing its commitment to promote sustainable use of energy, helping the Slovak economy to reduce its energy intensity and mitigate the rising energy prices”, said Brigita Schmögnerová, EBRD Vice President.

The Bank’s SLOVSEFF was launched in 2007, when the EBRD provided €60 million to encourage Slovak enterprises and housing associations to make better use of energy resources. The funds were distributed via four local participating banks.

To date the EBRD has financed over 280 sustainable energy projects in the residential and industrial sectors in Slovakia under the SLOVSEFF, which will lead to a total estimated energy savings of 235,000 MWh per year and an annual reduction in CO₂ emissions of 55,700 tones annually.

Similar EBRD facilities are currently operating in Bosnia-Herzegovina, Bulgaria, Georgia, Hungary, Kazakhstan, FYR Macedonia, Montenegro, Moldova, Romania, Russia, Serbia and Ukraine. Overall the EBRD has committed over €900 million to Sustainable Energy Finance Facilities in these countries.