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VIPA Energy Efficiency Structured Loan.

Business sector:Municipal and environmental infrastructure

Notice type:Public

Environmental category:B

Target board date:07 Sep 2016

PSD disclosed:20 May 2016

Project Description : EBRD is considering extending a loan of up to EUR 50.0 million to the Lithuanian Public Investment Development Agency ("VIPA"), an agency of the Ministry of Finance of Lithuania, to finance demand side energy efficiency investments in residential apartment buildings (the "Project").

Project Objectives : The Project will help conserve energy, reduce carbon emissions, and encourage the use of energy erformance contracts to bring energy efficiency gains in residential apartment buildings.

Transition Impact : The expected transition impact of the Project will be derived from two main sources:

Setting Standards: The project will reduce wasted energy and CO2 emissions by approximately 40 er cent. The CO2 savings potential will be reviewed and confirmed during due diligence.

Demonstration Effect of New Products and Processes: The project will support the use of erformance based contracting to implement energy efficiency improvements in apartment buildings.

Client Information : LITHUANIAN PUBLIC INVESTMENT DEVELOPMENT AGENCY

VIPA will be the borrower and act as an aggregator to channel and manage sub-loans to beneficiaries.

EBRD Finance Summary :

EUR 50,000,000.00

Up to EUR 50.0 million for energy efficiency investments.

Total Project Cost :

EUR 124,000,000.00

Total project cost will be EUR 124.0 million. In addition to the proposed EBRD loan, a further EUR 4.0 million of investments are being financed with European Union funds on-lent by VIPA.

Environmental and Social Summary : The project has been categorised B. Environmental and Social Due Diligence ("ESDD") will be arried out by external consultants and will include a site visit.

This project will have significant benefits in terms of improving energy efficiency, lowering emissions ad enhancing the quality of apartment buildings in Lithuania.

The ESDD will focus on developing an appropriate management plan for avoiding or mitigating otential temporary disruptions and nuisance caused by the project construction and implementation orks as well as for appropriate disclosure of information on the planned rehabilitation works to the afected residents.

An Environmental and Social Action Plan ("ESAP") will be developed to ensure contractors will dhere to and adopt good construction practices and environmental, health and safety and social tandards in line with the Bank's PRs.

This PSD will be updated once the ESDD is completed to summarise the outcomes.

Technical Cooperation :

Pre-signing : Full financial, technical and environmental and social due diligence will be prepared under the ramework for Municipal Services for Project Preparation in the EBRD Advanced Transition ountries and will be financed by the Government of the Slovak Republic with a budget of up to EUR 5

Project completion date : 2019-12-31 12:00:00

Major organization : LITHUANIAN PUBLIC INVESTMENT DEVELOPMENT AGENCY

Address : Gedimino av. 18/Jogailos str. 2,

LT-01103 Vilnius

Country :Lithuania

Email : g.darguzas@vipa.lt

Url : http://vipa.lt/en/

Financier : EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT (EBRD),

Financier address : European Bank for Reconstruction and Development (EBRD)

One Exchange Square

London EC2A 2JN

United Kingdom

Website : http://www.ebrd.com/

EBRD Procurement: Tel: +44 20 7338 6794

Email: procurement@ebrd.com

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Publication:Mena Report
Geographic Code:4EXLT
Date:May 23, 2016
Words:532
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