News

Building energy efficient residential sector with EBRD

Published

December 22, 2015

Comments

0

Share

Published:

December 22, 2015

Comments:

0

Share

The European Bank for Reconstruction and Development is fostering energy efficiency in the residential sector of Kosovo* with an additional EUR 1 million loan to Kreditimi Rural i Kosovës (KRK), one of the strongest rural microfinance lenders in the country.

The new funding is being provided under the Kosovo* Sustainable Energy Projects Framework (KoSEP) in response to growing demand for energy efficiency financing in the country, EBRD said. The availability of medium and long-term funding to the private sector for energy efficiency and sustainable energy investments in the current market condition in Kosovo* is limited, notes the report on the bank’s website.

KoSEP is a EUR 12 million facility for on-lending to small businesses and the residential sector. The facility benefits from additional donor funding provided by Norway and the EBRD Shareholders Special Fund. KRK is located in Priština but it services the entire territory of Kosovo* through its 18 branches and 96 permanent staff.

Elena Petrovska, EBRD’s associate director and head for Kosovo*, said: „KoSEP was the first EBRD energy efficiency financing facility provided to financial institutions in the country. While the potential for energy savings is high across all the sectors in Kosovo*, the exisiting market barriers for energy efficiency investments make financing such projects difficult. We are pleased to help overcoming these challenges together with KRK.“

Lulzim Sadrija, CEO of KRK, added: „KRK has worked very closely with KoSEP to develop our energy efficiency lending capacities. We believe that KRK is now very well positioned to continue to utilise KoSEP funds in order to further support energy efficiency projects in Kosovo*“.

* This designation is without prejudice to positions on status and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.

Related Articles

coal-power-generation-eu

Fossil fuels returned as top energy source in EU power generation in 2021

01 July 2022 - Among renewable sources, the biggest increase in 2021 was seen in electricity produced from solar energy, 13%,

Floating wind farm project unites fishermen, investors in Ireland

01 July 2022 - A joint 2 GW floating wind farm project is the first cooperation in the world between the two opposing sectors.

Voltalia breaks ground Albania biggest solar park Western Balkans Karavasta

Voltalia breaks ground in Albania for biggest solar park in Western Balkans

01 July 2022 - The site for the Karavasta solar park spans 196 hectares in Fier county in Albania's west. The planned capacity is 140 MW.

net-loss-eps-q1

Serbia’s power utility EPS posts Q1 net loss of EUR 254 million

30 June 2022 - The state-owned power utility is blaming the poor result on a drop in output, electricity imports, and capped prices for end-consumers