Eminent Ltd. is a Serbian clothing producer established in the 1990s as a small company, which has dynamically developed into a leader of the regional fashion industry. The company sells its products under the brand ‘Legend World Wide’ to Serbia, Montenegro and Bosnia and Herzegovina.
The company applied to WebSEFF for financing to replace its production equipment, decrease the energy consumption and improve the production process.
The WebSEFF team performed the investment analysis, assessed the potential energy savings, its financial-technical parameters and risks.
The project included replacement of three old washing machines, a drying chamber and a textile spray cabin with new and energy efficient equipment.
The €239,100 investment allowed the company to decrease its energy costs by $36,406 per year. This means the investment will repay itself out of energy savings in six and a half years, turning the cash-flows into company income. The savings mostly arise out of reduction of electricity consumption by 966 MWh per year. In addition, the new machines are more time-efficient and environmentally friendly, enabling a 64 per cent reduction in CO2 emissions.
This project demonstrates once again that energy savings are possible in all types of industries, enhancing the profitability and competitiveness of businesses. Besides that, energy savings never come alone, they often deliver many other benefits to the company, its employees and local community.
This way, the EBRD and WebSEFF support the sustainable financing and implementation of sustainable energy projects by the private sector. Together, the private, residential and public sectors can make a change in energy consumption patterns and contribute to environmental protection.