EBRD invests 10 billion Euro in sustainable energy
This milestone was announced in Istanbul, Turkey during an EBRD panel discussion held in parallel with the Climate Investment Funds 2012 Partnership Forum. SEI has financed 552 projects ranging from the insulation of a nursery in Slovakia to energy efficiency credit lines in Turkey. The project that brings the total of EBRD SEI financing to 10 billion Euro is the new 53 MW Kukinia wind farm in Poland.
“The energy intensity of economies in the region of EBRD operations remains very high, despite some progress. Sustainable energy has grown into a major activity of the EBRD accounting for a third of EBRD investments in 2011. From Turkey to Russia, from Mongolia to Slovakia we are working with industries, utilities, municipalities and households to enhance their energy efficiency. The EBRD has proven over the years that energy efficiency makes good business sense,” said Sir Suma Chakrabarti, the EBRD President.
EBRD’s Managing Director for Energy Efficiency and Climate Change, Josué Tanaka, says: “With this financial milestone of 10 billion Euro of EBRD sustainable energy financing, we demonstrate that even in a difficult context there is a strong opportunity to assist small and large corporates in reducing their costs and enhancing their competitiveness. Beyond business, these investments bring significant environmental benefits with SEI projects to date expected to reduce annual carbon dioxide emissions by 50 million tonnes, which is equivalent to the emissions of Sweden.”
EBRD’s Josué Tanaka added: “A modern economy is an economy moving on a low-carbon path, so businesses should look ahead and invest in the most efficient solutions. Go beyond the legal and regulatory requirements of today to be more competitive tomorrow.”
The total value of projects where the EBRD has invested under the Sustainable Energy Initiative since 2006 is over 55 billion Euro. The bank aims to invest a further five to six billion Euro in this area in the period 2012 to 2014.
“The energy intensity of economies in the region of EBRD operations remains very high, despite some progress. Sustainable energy has grown into a major activity of the EBRD accounting for a third of EBRD investments in 2011. From Turkey to Russia, from Mongolia to Slovakia we are working with industries, utilities, municipalities and households to enhance their energy efficiency. The EBRD has proven over the years that energy efficiency makes good business sense,” said Sir Suma Chakrabarti, the EBRD President.
EBRD’s Managing Director for Energy Efficiency and Climate Change, Josué Tanaka, says: “With this financial milestone of 10 billion Euro of EBRD sustainable energy financing, we demonstrate that even in a difficult context there is a strong opportunity to assist small and large corporates in reducing their costs and enhancing their competitiveness. Beyond business, these investments bring significant environmental benefits with SEI projects to date expected to reduce annual carbon dioxide emissions by 50 million tonnes, which is equivalent to the emissions of Sweden.”
EBRD’s Josué Tanaka added: “A modern economy is an economy moving on a low-carbon path, so businesses should look ahead and invest in the most efficient solutions. Go beyond the legal and regulatory requirements of today to be more competitive tomorrow.”
The total value of projects where the EBRD has invested under the Sustainable Energy Initiative since 2006 is over 55 billion Euro. The bank aims to invest a further five to six billion Euro in this area in the period 2012 to 2014.
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