The company is a leading chromium chemical producer in Russia. It planned to modernise its production facilities to reduce energy consumption and costs.
It contacted RuSEFF for an advisory package and affordable financing. The RuSEFF team conducted an energy assessment of the company’s production facilities to identify cost-effective energy saving opportunities. The experts identified a number of energy saving measures, which would pay for themselves within a relatively short period of time.
The final project consisted of the replacement of outdated air compressors and steam boilers, and the installation of variable speed drives to regulate the output of several motors.
The investment of $2.58 million resulted in electricity and natural gas savings worth more than $900,000 per year. This means the investment will be repaid in less than three years. Following this. the cost savings can be seen as additional income. The modern, high performing equipment also leads to a reduction in CO2 emissions of more than 13,000 tonnes per year, contributing to mitigating the negative effects of human activity on the climate.
This project improved the company’s financial standing and competitiveness in the market. It demonstrates that energy savings are possible in all industries and can bring multiple benefits. Therefore, it is worth checking the energy saving potential of investment measures with the help of in-house or external experts.
The EBRD, through RuSEFF, supports the sustainable financing and implementation of energy efficiency and renewable 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.