Russian Companies and Organizations Energy
and resource saving project financing for minicipalities' social
NEFCO offers small scale financing for energy saving measures in social objects i.a. schools, kindergartens, hospitals, sports facilities and street lights in Russian and Ukrainian municipalities where repayment of the loan is directly tied to the savings of the investment. In Russia the loans are provided in local currency through Russian banks.
So far 15 projects have been implemented, mainly in schools and kindergartens, in Northwest Russia and 20 new projects are in pipeline for NEFCO's consideration. The total investment in these 15 projects is approximately EUR 3,3 million.
subsidized finance to social objects
annual savings of approx. 25% of the investment cost
significant environmental effects shall be achieved
energy audit required before NEFCO's approval of the project
repayment directly tied to the savings of the investment
municipality or municipal company as borrower
Typical projects approved for financing
heat sub-centrals renovation, installation of thermostatic valves combined with insulation of windows and doors in schools, kindergartens hospitals, or
renovation of boiler houses
street lights, replacement of mercury lamps with sodium lamps
Project monitoring and reporting to NEFCO
the project implementation is monitored by local and Nordic consultants in order to secure sustainable energy saving solutions and good quality
no extra cost for the borrower, consultants and legal costs are paid by NEFCO
cooperation with several local Energy Efficiency Centers in Northwest Russia have been established and developed
NEFCO's Facility for Energy Saving Projects amounts to DKK 44 million (EUR 6 million).