Energy Efficiency

Resalta secures EUR 12 million loan from EIB for energy efficiency services

Resalta secures EUR 12 million loan from EIB for energy efficiency services

Photo: Resalta

Published

February 14, 2020

Country

,

Comments

0

Share

Published:

February 14, 2020

Country:

,

Comments:

0

Share

The energy services provider intends to expand in Slovenia, Croatia, Bulgaria, Serbia and the Western Balkans overall. The funding for Resalta was agreed within the Investment Plan for Europe for the second time.

Energy intensity in Southeastern Europe is high and there is a need for energy efficiency and energy management, according to a press release after the first transaction in Slovenia under the European Growth Finance Facility  – EGFF. Ljubljana-based Resalta doo said it would use the EUR 12 million credit package from the European Investment Bank, EIB, partly for digitalization and development of new energy management systems.

It highlighted supervising functions, technical intelligence, smart meters and submeters controls. The statement adds the remainder is for new services and information technologies for the energy performance of buildings.

The bank said Resalta’s activities in the sector are crucial for the region and that they are “firmly” compatible with the EIB’s climate action policy.

EGFF is a branch of the Investment Plan for Europe, also known as the European Union Infrastructure Investment Plan. The facility was launched in strategic partnership with the previous European Commission under the European Fund for Strategic Investments (EFSI).

Energy intensity is negatively correlated with energy efficiency as the share of energy consumption in economic output.

The European Growth Finance Facility was launched in strategic partnership with the previous European Commission under the European Fund for Strategic Investments or EFSI

The deal is aimed at boosting the commercialization of the company’s services and producing a positive effect on the environment, the parties involved said. Project development warrants better access to the necessary technical knowledge and financing options, they stressed.

Slovenia, Croatia, Bulgaria, Serbia and the Western Balkans market overall are in focus for the EIB funds, Resalta revealed. It said it would add as much as 50 employees to almost double the headcount. The bank already approved a EUR 6 million loan to the energy services provider in April, also within the Investment Plan for Europe.

Resalta has a proven track record of offering both public and private sector companies energy efficiency solutions, such as retrofitting 48 municipal buildings in Ljubljana, European commissioner for the economy Paolo Gentiloni said.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Turkey one third world geothermal greenhouses

Turkey accounts for one third of world’s geothermal greenhouses

05 August 2022 - The surface of greenhouses heated with geothermal energy in Turkey grew 400% since 2002, says Mücahit Kıvrak from the Balıkesir University

Serbia target emissions cut 40 3 by 2030 upcoming NECP

Serbia to target emissions cut of 40.3% by 2030 in upcoming NECP

27 July 2022 - Serbia presented the preliminary goals for its integrated national energy and climate plan as it is about to start a public debate

GGF takes green finance graduates on study tour in Berlin

14 July 2022 - GGF's Technical Assistance Facility and the Renewables Academy (RENAC) hosted a study tour in Berlin for the graduates of the Green Finance Expert Course

Green for Growth Fund record expansion 2021

Green for Growth Fund achieves record expansion in 2021

12 July 2022 - GGF recorded its strongest ever net growth in its outstanding portfolio, with EUR 1.3 billion in green loans to over 42,000 end borrowers