UKEEP is a
credit facility
A line of credit is a credit facility extended by a bank or other financial institution to a government, business or individual customer that enables the customer to draw on the facility when the customer needs funds. A line of credit takes se ...
developed by the European Bank for Reconstruction and Development (
EBRD
The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991. As a multilateral developmental investment bank, the EBRD uses investment as a tool to build market economies. Initially foc ...
), targeting Ukrainian private companies in all sectors looking to invest in energy efficiency or
renewable energy
Renewable energy is energy that is collected from renewable resources that are naturally replenished on a human timescale. It includes sources such as sunlight, wind, the movement of water, and geothermal heat. Although most renewable energy ...
projects. The UKEEP credit line is provided through participating banks in
Ukraine
Ukraine ( uk, Україна, Ukraïna, ) is a country in Eastern Europe. It is the second-largest European country after Russia, which it borders to the east and northeast. Ukraine covers approximately . Prior to the ongoing Russian inv ...
, who in turn on-lend to Ukrainian private companies applying for UKEEP financing. Investments are anticipated to decrease energy consumption, increase own energy production or make energy usage more efficient.
UKEEP is active and is scheduled to run until the end of 2012. UKEEP has so far committed approximately US$102 million to energy efficiency projects in various sectors. Together, these projects will lead to energy savings of more than 2,115,000 MWh per year – equivalent to the household electricity consumption of more than 520,000 households. As a result, CO
2 emissions
Emission may refer to:
Chemical products
* Emission of air pollutants, notably:
**Flue gas, gas exiting to the atmosphere via a flue
** Exhaust gas, flue gas generated by fuel combustion
** Emission of greenhouse gases, which absorb and emit rad ...
will decrease by more than 504,000 tonnes per year – equivalent to the annual emissions of more than 225,000 passenger cars.
At company level the UKEEP concept has turned out to be very profitable with individual Ukrainian companies saving up to 85% of their energy consumption by investing in new and more energy efficient technologies. The success of UKEEP has resulted in EBRD launching similar concepts in several other Eastern European countries.
See also
*
The European Bank for Reconstruction and Development
The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991. As a multilateral developmental investment bank, the EBRD uses investment as a tool to build market economies. Initially focu ...
*
Efficient energy use
Efficient energy use, sometimes simply called energy efficiency, is the process of reducing the amount of energy required to provide products and services. For example, insulating a building allows it to use less heating and cooling energy to ...
*
Renewable energy
Renewable energy is energy that is collected from renewable resources that are naturally replenished on a human timescale. It includes sources such as sunlight, wind, the movement of water, and geothermal heat. Although most renewable energy ...
*
Ukraine
Ukraine ( uk, Україна, Ukraïna, ) is a country in Eastern Europe. It is the second-largest European country after Russia, which it borders to the east and northeast. Ukraine covers approximately . Prior to the ongoing Russian inv ...
References
UKEEP in Donetsk 2009 (Eng)UKEEP in Zaporizhia 2010 (Ukr)Energy efficiency program amounting to US$150 million (Rus)EBRD provides Ukrainian banks with US$130 million (Ukr)
External links
*http://www.ebrd.com/ (EBRD)
*http://www.ukeep.org/ (UKEEP -Ukraine)
*http://www.uself.com.ua/ (USELF - Ukraine)
*http://www.armseff.org/ (ARMSEFF - Armenia)
*http://www.energocredit.ge/ (Energocredit - Georgia)
*http://www.kazseff.kz/ (KAZSEFF - Kazakhstan)
*http://www.moseff.org/ (MOSEFF - Moldova)
*http://www.ruseff.com/ (RUSEFF - Russia)
*http://www.numune.eu/ (TURSEFF - Turkey)
Economy of Ukraine
Energy in Ukraine