EBRD invests €10 billion in renewable energy

Development bank shows the way to energy efficiency finance and calls on governments to build the momentum through better legislation, standards and incentives €10 billion is close to the GDP of several EBRD countries of operations. The European Bank for Reconstruction and...

Select Your Countries:
Albania
Bosnia and Herzegovina
Bulgaria
Croatia
Cyprus
FYROM
Greece
Montenegro
Romania
Serbia
Slovenia
Turkey
   

    
Select SIX industries you would like to appear:
Aerospace & Defense Agribusiness & Forestry Auto Industry
Capital markets Chemicals Construction & Materials
Economy & Statistics Environment Energy & Utilities
Financial Services Food and Beverage Franchising
Gaming Infrastructure Machinery & Appliances
Marketing & Advertising European Union Metals & Mining
Paper & Packaging Pharmaceuticals Real Estate
Retail Shipping Science
Telecoms, IT, Electronics, Media & Internet Textile & Clothing Tobacco
Tourism Transportation Wood and Furniture
Other        
Note: You can always change your choice later by unchecking the appropriate box or uncustomize all..        

Getting started

The first thing you need to do is choose a news reader, if you already don't have one. This is a piece of software that checks feeds you have requested and lets you read any new articles that have been added. There are various types of news reader. You should choose one that will work with your computer’s operating system.



When you have chosen a news reader, you can decide what content you want to keep up to date with. Please choose from below:

Albania Bosnia and Herzegovina Bulgaria Croatia
Cyprus FYROM Greece Montenegro
Romania Serbia Slovenia Turkey
INTERVIEWS BY BALKANS.COM      

Problems ?

Alternatively, you can paste one of the BBN RSS URLs into a new feed in your news reader.


http://www.balkans.com/rss/english/albania.rss
http://www.balkans.com/rss/english/bulgaria.rss
http://www.balkans.com/rss/english/cyprus.rss
http://www.balkans.com/rss/english/greece.rss
http://www.balkans.com/rss/english/romania.rss
http://www.balkans.com/rss/english/slovenia.rss
http://www.balkans.com/rss/english/bosnia.rss
http://www.balkans.com/rss/english/croatia.rss
http://www.balkans.com/rss/english/macedonia.rss
http://www.balkans.com/rss/english/montenegro.rss
http://www.balkans.com/rss/english/serbia.rss
http://www.balkans.com/rss/english/turkey.rss

Find more about RSS FEEDS !
Name:  Surname: 
Country:  Company name:
Email (Username): (If you would like to change your email address please notify us at news@balkans.com.)
Password:  Confirm password: 
Visak koda  
   
     

MY ALERTS

MAKE NEW ALERT

 E-mail article  Print  Save Additional News in English Još vesti na Srpskom Επιπλέον ειδήσεις στα Ελληνικά  Text

EBRD invests €10 billion in renewable energy



EBRD - 07.11.2012

Development bank shows the way to energy efficiency finance and calls on governments to build the momentum through better legislation, standards and incentives

€10 billion is close to the GDP of several EBRD countries of operations. The European Bank for Reconstruction and Development has announced that its investments in energy efficiency and renewable energy have reached €10 billion (over US$ 13 billion) since the launch of its Sustainable Energy Initiative (SEI) in 2006.

This milestone was announced in Istanbul, Turkey during an EBRD panel discussion held in parallel with the Climate Investment Funds 2012 Partnership Forum. SEI has financed 552 projects ranging from the insulation of a nursery in Slovakia (watch video) to energy efficiency credit lines in Turkey. The project that brings the total of EBRD SEI financing to €10 billion is the new 53 MW Kukinia wind farm in Poland.

"The energy intensity of economies in the region of EBRD operations remains very high, despite some progress. Sustainable energy has grown into a major activity of the EBRD accounting for a third of EBRD investments in 2011. From Turkey to Russia, from Mongolia to Slovakia we are working with industries, utilities, municipalities and households to enhance their energy efficiency. The EBRD has proven over the years that energy efficiency makes good business sense," says Sir Suma Chakrabarti, the EBRD President.

EBRD's Managing Director for Energy Efficiency and Climate Change, Josu Tanaka, says: "With this financial milestone of €10 billion of EBRD sustainable energy financing, we demonstrate that even in a difficult context there is a strong opportunity to assist small and large corporates in reducing their costs and enhancing their competitiveness. Beyond business, these investments bring significant environmental benefits with SEI projects to date expected to reduce annual carbon dioxide emissions by 50 million tonnes, which is equivalent to the emissions of Sweden."

While the EBRD record shows what can be done in the short term, sustainable energy investment could be significantly boosted with an improvement in policies and regulations including: cost-reflective pricing; setting standards for equipment that promote the use of high-efficiency appliances, machinery and vehicles; and providing appropriate incentives to further investment in developing and deploying high-efficiency solutions where the price mechanism may not be sufficient.

EBRD's Josu Tanaka adds: "A modern economy is an economy moving on a low-carbon path, so businesses should look ahead and invest in the most efficient solutions. Go beyond the legal and regulatory requirements of today to be more competitive tomorrow."

The total value of projects where the EBRD has invested under the Sustainable Energy Initiative since 2006 is over €55 billion. The Bank aims to invest a further €5 to €6 billion in this area in the period 2012 to 2014. Source: bne


LATEST NEWS ON BALKANS.COM

Related News in English

Povezane vesti na srpskom

Συναφείς Ειδήσεις στα Ελληνικά

Email