Korsair Holdings AG announces that it has entered into discussions with various Municipalities in Bulgaria in order to address their need of energy efficiency solutions. Through the partnership with GAIA Consult Ltd and Capital Solar Partners Ltd, Korsair Holdings gets access to a wide network of Municipalities and local sub-contractors in order to execute both projects and investments related to green technology implementations.

For the Municipality of Plovdiv, Korsair Holdings is exploring the feasibility of changing the actual lighting fixtures of indoor and outdoor environments to more energy efficient alternatives, this also includes the streetlights within the Municipality. The partnership is right now finalizing an energy audit analysis in order to properly calculate the energy savings that can be achieved. The potential amount of lighting fixtures to be changed, only in the Municipality of Plovdiv is estimated to approximately 30.000 pieces.

According to Nelly Weisbloom, Principal of GAIA Consult: "The interest for energy efficiency applications and specifically PV Streetlight technology has been growing rapidly due to the new adopted EU Directive 2012/27/EU on energy efficiency. Just in Bulgaria we have a potential of 264 Municipalities and they all is imposed by the new EU Directive to meet up with the new requirements. Some Municipalities has already started pilot projects for changing their traditional streetlights to LED and other more energy efficient fixtures."

Further on Mr. Steven Huynh, CEO of Korsair commented: "Korsair Holdings is in discussion with a few financial institutions in Europe and Hong Kong in order to develop funding structures for Energy Management System Financing or EMS Financing related to LED or PV streetlight applications, we hope soon to be able to offer potential clients a package which include technology and a financial lease program." Mr. Huynh further amends: "A potential project of 30.000 PV Streetlights is estimated to be worth EUR 30 million including financial costs and operations and maintenance costs."

About Korsair Holdings AG

Korsair Holdings AG is a technology holding company with a focus on environmental and technical infrastructure projects related to renewable energy and clean technologies. By combining environmental innovations with creative management and proven industrial leadership, Korsair Holdings AG strives to stay in the forefront of the CleanTech business. Source: Korsair Holdings