UkrESCO
Policy measure

The Government of Ukraine has entered a cooperation with the European Bank for Reconstruction and Development (EBRD) to develop a Ukrainian national ESCO to identify potentials for and implement energy efficiency projects in small and medium-sized companies in the country. As a result, UkrESCO was founded in 1998 following a loan agreement between the two parties. The purpose of the loan was to provide financing for energy efficiency projects in small and medium-sized companies. The loan was for USD 20 million and has successfully been repaid to the EBRD. UkrESCO was the first energy saving company in a CIS country UkrESCO (2011).

Implementation
No identified implementation measures.
Challenges
No identified challenges.
Outcomes

The outcomes for small and medium-sized businesses in Ukraine related to the establishment of UkrESCO include energy audits and the implementation of energy saving projects, which are the main activities of the company. UkrESCO has successfully implemented 24 energy saving projects in Ukrainian enterprises. These projects cost between USD 200,000 to USD 5 million. The payback period has been 1-4 years and the credit term lasts up to 4 years. These EE projects have reduced energy consumption by users by 25-50 percent. All projects implemented by UkrESCO are based on the EBRD’s ecologically friendly standards UkrESCO (2011). 

References

UkrESCO (2011). About Company. CJSC “Ukrainian Energy Service Company. Available at: www.ukresco.com/en/aboutus.html.