The European Investment Fund (EIF), part of the EIB Group, will provide EUR 6 million of new equity capital to the innovative Slovenian provider of energy efficiency solutions Resalta. This capital increase will help Resalta evolve from being a start-up and implement a business plan to become a major provider of independent energy services and renewable energy solutions, making a positive impact on Slovene and EU economy and environment alike.
The company currently works with individual clients, companies and municipalities in Slovenia, Bulgaria, Croatia, Czech Republic, Italy, Macedonia, Montenegro, Serbia, helping them lower CO2 emissions, energy consumption and save on energy-related costs, according to a joint press release.
Enabled by a guarantee from the EU budget, under the Investment Plan for Europe, or the Juncker Plan, the capital enables Resalta to continue contributing towards an energy efficient and environment-friendly Europe. To date, the company developed and implemented solutions saving 300 GWh of electric energy and reducing CO2 emissions by 30000 tons a year – equal to planting 3400 ha of forest.
Resalta, founded by Slovenian industry heavyweights – Gorenje, Geoplin and Energetika Ljubljana – will also develop its renewables pipeline while growing its energy services portfolio. The company’s contribution to CO2 emissions reduction through the City of Ljubljana energy retrofit project has been recognized by the European Commission as the best energy service project, awarded with the European Energy Service Award.
Half of the recapitalization amount comes from a joint instrument developed by EIF and the Slovene Development Bank (SID), while the other half comes from Bulgarian BlackPeak Capital investment fund and private investors.
Chief Executive of the European Investment Fund (EIF) Pier Luigi Gilbert said: “Companies like Resalta are proof that businesses can be successful and environmentally conscious at the same time. There is a business opportunity in making Europe a better place for generations to come and Resalta has benefitted Slovenia and the EU by seizing that opportunity. The EIF is proud to support Resalta, who shares our vision of Europe as a place where business and environment work with, rather than against, one another. I would also like to thank SID Banka for being our reliable partner in Slovenia.”
European Commissioner for Climate Action and Energy Miguel Arias Cañete said: “With its investment power, the Juncker Plan is helping us reach our EU-wide goals of clean energy use. Today, the Juncker Plan is supporting Resalta, a very promising Slovenian start up, to grow, innovate and develop renewable energy solutions. I congratulate Resalta on seizing the opportunity offered by the Juncker Plan and I hope more Slovenian innovative company will follow suit.”
CEO of Resalta Luka Komazec said: “The investment from EIF is a major step in Resalta’s development, and the trust placed in us attests to the important role independent companies play in developing energy efficiency and renewables. Thanks to this investment we will be able to develop many new projects in our pipeline and are eager to enter the next phase of Resalta’s growth, which we are confident will have a profound and lasting impact on the region’s energy landscape.”