EBRD celebrates the best sustainable energy projects in Bulgaria

To recognise excellence in the field of energy efficiency, BEERECL in the course of the farewell event devoted to conclusion of a decade long successful facility, assigned its Sustainable Energy Excellence Awards to projects that achieved the most significant results and the highest energy savings.

The winners were:

1. Most Effective Industrial Investment Award: IHB Electric JSC, Sofia
The company is the largest manufacturer of rotating electric machines in Bulgaria. The €47,920 BEERECL loan and the €7,188 KIDSF investment incentive allowed the company to replace five ageing machines with one new induction copper welding machine. The new equipment generated 73 per cent of energy cost savings per year in the welding operations. In addition, the water, labour and material costs were reduced as well. The carbon emissions decreased by 81 tonnes per year. This way the company improved its operations, competitiveness and the working environment.

2. Most Innovative Investment Award: Delta Textile Ltd, Ruse
The company produces socks for popular global brands. The €840,000 BEERECL loan and the €126,000 KIDSF investment incentive allowed the company to replace 49 knitting and 12 sewing machines with 34 new state-of-the-art knitting machines. The new equipment significantly boosted the revenues by increasing the production, improving the quality of products, reducing wastes and operation and maintenance costs. Energy costs per unit of production were cut down by 36 per cent and carbon emissions were reduced by 380 tonness per year.

3. Most Effective Agricultural Investment Award: Kemapul Ltd, Svishtov
The €130,739 loan from the BEERECL and the €19,611 KIDSF investment incentive allowed the agricultural production company to replace inefficient old tractors, leading to the decrease of the field operation time – one of the biggest challenges and success factors in agricultural business, affecting the harvest and sales. The diesel fuel, labour, maintenance and repair costs were reduced as well.

4. Food Sector Energy Savings Award: Fiesta 13 Ltd, Pleven
The confectionery and food retailer company used the €174,053 BEERECL loan and the KIDSF investment incentive of €26,108 to renovate its building and energy systems. The project included installing thermal insulation, efficient windows and doors, a solar water heating system, air-to-air heat pumps and a natural gas boiler for space heating and cooling as well as a modern ventilation system. As a result of the investment, the company’s energy costs decreased by 67 per cent per year, while the carbon emissions were lowered by 530 tonnes per year.

5. Most Effective Building Investment Award: Mototehnika Jsc, Sliven
The automobile service centre used the €27,800 BEERECL loan and the €4,170 investment incentive from KIDSF to improve its building’s energy efficiency. The measures included wall thermal insulation, installation of double glazed windows and energy efficient metal doors. The project led to 47 per cent of electricity costs reduction and carbon emissions of 160 tonnes per year.

At the award ceremony Terry McCallion, EBRD Director for Energy Efficiency and Climate Change, said: “Apart from the projects that we celebrate today, we are also delighted to honour the efforts made by our participating financial institutions to promote energy efficiency and low-carbon through their lending practices”.

BEERECL was the EBRD’s first ever sustainable energy financing facility and based on the successful experience in Bulgaria, the EBRD extended over €2 billion in sustainable energy financing to more than 20 countries, which led to the annual carbon emissions reduction of over 4 million tonnes.