Enigin Update - Energy Efficiency Funding for Russian Industry
A LOAN programme extended by the Nordic Investment Bank (NIB) to the Russian Gazprombank will be used for improving energy efficiency in Russia's industries.
The loan agreement totalling €60 million is structured as a credit line with a seven-year maturity. At least 70 percent of the NIB-provided funds will be on-lent to energy-efficiency projects, while the remainder may be utilised for projects complying with NIB's competitiveness mandate.
The programme will finance, amongst other projects, energy-efficiency projects within, for instance, the steel, chemical, forestry and cement industries.
Russia is a major oil producer but has been struggling to improve energy efficiency, due to the previous provision of cheap energy and the former communist system inefficient structures and processes.
Hence Russia is proving to be ripe fruit for Enigin Distributors and their energy saving businesses, as they supply cutting edge energy efficiency systems and technology from Enigin.
Picture Another day of Moscow by Cavin reproduced under CCL.
