| Project Detail |
A senior loan of up to EUR 25 million to the Communal Enterprise Dniprovska Municipalna Energoservisna Kompanya (the Company), the municipal energy management company, owned by the City of Dnipro (the City), to finance energy-saving measures in public buildings in the City (the Project). The loan is expected to be co-financed by an investment grant of up to EUR 8 million from a bilateral or multilateral donor, with the grant funding source and amount to be confirmed prior to signing of the Project legal documentation. The local contribution of up to EUR 2.5 million will cover additional energy conservation measures, capital repairs and technical supervision under the Project. The Project proceeds will finance investments with elements of an Energy Performance Contract (the EnPC) for energy efficiency improvement measures in ca. 88 public buildings, including kindergartens, schools and hospitals. Project Objectives The proposed investment will enable the City to finance energy efficiency measures through EnPCs implemented by private contractors selected under competitive tender(s). The investments are expected to result in strong improvement of public buildings condition through renovation of facilities and meeting heating requirements, enhanced comfort level and reliability of services at kindergartens, schools and hospitals, as well as reduction of energy and maintenance costs of the buildings and decrease in CO2 emissions. The Project will also pilot the installation of renewable energy sources in hospitals, helping to diversify the energy supply and enhance energy security in the City. This will reduce the hospitals dependence on external energy sources, which can be disrupted by power outages, ensuring they continue to operate smoothly and provide uninterrupted healthcare services to the population during the war. |
