Improving heating in social care facilities, railway stations, schools, sports centres, residential houses and street lighting projects
A Slovak company, KOOR, that implements heat supplies and public lighting solutions across the country, invested € 3,354,600 in energy efficiency improvements in several public and private buildings in towns across Slovakia, supporting efficient and sustainable energy development in the country.
Established in 2010, KOOR is a market leader in deploying innovative energy efficient technologies that provide its clients with sustainable solutions. The company works to identify public and private buildings across Slovakia that would benefit from services such as replacing outdated boilers, water circulation pipes and lighting systems.
The European Bank for Reconstruction and Development (EBRD) granted its first loan to KOOR via a Slovak partner bank, Všeobecná Úverová Banka (VÚB), in 2012. Since then, with the support of the EBRD, KOOR has invested € 2 million in improving heating in social care facilities, railway stations, schools, sports centres, residential houses and street lighting projects across 15 towns in Slovakia. These projects have helped to increase energy efficiency, decrease the energy costs and GHG emissions.
The projects were implemented on the basis of Energy Performance Contracting (EPC), a financing scheme under which the energy savings from the project are gradually repaying the costs of the implemented solution. This form of financing allows KOOR`s clients flexibility in repayment, without which these projects would not have been possible.
Overall, KOOR invested € 3,354,600 in the renovation of heating and lighting system and the replacement of outdated technologies with new, energy efficient solutions and financed installation of new heat sources such as condensing boilers, the replacement of windows, doors and glass block walls as well as installing efficient LED lighting.
The projects led to considerable energy improvements, including reduction in energy consumption by around 25 %, which resulted in annual savings of € 572,700. The renovations are also helping Slovak cities to become more environmentally friendly reducing GHG emissions by 1,730 tCO2annually.