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Chernivtsi District Heating Project
The EBRD is providing a loan to the district heating utility Municipal Communal Enterprise “Chernivtsiteplokomunenergo” (the “Company”), operating in the City of Chernivtsi (the “City”) to finance the installation of individual heating sub-stations, biofuel boilers, network replacement with pre-insulated pipes, modernisation of boilers and control systems, and the installation of monitoring and dispatching system in the City (the “Project”). The project aims at significantly improving the energy efficiency, reducing energy losses, gas and electricity consumption and improving the quality of heat and hot water supply services in the City. Through physical investments and commercialisation resulting from implementation of the Corporate Development Programme, the project will improve the operational and financial performance of the Company and will have a significant demonstration effect for other cities and utilities in Ukraine concerning ways to improve energy efficiency of district heating operations and reduce losses and costs. Through investment programme implementation the project is expected to result in significant energy efficiency gains as well as enable better energy management at the building level, thereby providing incentives for energy-savings by end-users.