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Energy efficiency in public buildings (Dnepropetrovsk)
The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to €10 million for energy efficiency improvements to public buildings in the Ukrainian city of Dnipropetrovsk. There is also an option to increase the loan to €20 million in the future to further energy efficiency in one of the country’s largest municipalities. The project is co-financed by a €2.5 million grant from the Eastern Europe Energy Efficiency and Environmental Partnership (E5P) to which the EU is the largest contributor. Dnipropetrovsk aims to engage private contractors to plan, finance and implement energy-saving measures, the cost of which will be covered by the energy savings achieved. The Bank will provide funds to Dnipropetrovska Municipalna Energoservisna Kompanya (DMEK), a communal enterprise specifically established to develop and manage energy efficiency projects in the city of Dnipropetrovsk. DMEK will use the loan to finance energy efficiency measures that will be carried out by privately-owned energy service companies (ESCOs). In return for providing these investments, the city will pay DMEK the equivalent of the full energy cost savings achieved as a result of these measures.