EUR 12 m loan to Resalta is provided by EIB under the Investment Plan for Europe;
Loan to address the high energy intensity in South-Eastern Europe and the Western Balkans;
Resalta’s activities in the energy efficiency sector are crucial for the region and fit firmly within the Bank’s climate action policy;.
The European Investment Bank (EIB) and Resalta, Slovenian provider of energy efficiency and energy management solutions, signed today a EUR 12 million loan to allow the company to accelerate the commercialisation of its services and enhance its positive environmental impact in South-Eastern Europe and the Western Balkans.
The project is the first operation in Slovenia signed under the European Growth Finance Facility (EGFF), a part of the Investment Plan for Europe, in which the EIB and the European Commission are strategic partners.
Resalta will invest one part of the EIB loan in digitalisation and development of new energy management systems such as supervising functions, technical intelligence, smart meters and sub-meters controls etc. The remaining part of the loan will go towards investments in new services and IT technologies crucial for the improvement of energy performance of buildings.
The South Eastern Europe and the Western Balkans region has a higher than EU average energy intensity ratio and there is scope to increase energy efficiency. The barriers to developing projects include access to the necessary technical knowledge and financing options, which Resalta provides to its clients, making a valuable contribution to an energy efficient Europe, a key ambition of the European Green Deal.
Lilyana Pavlova, Vice-President of the European Investment Bank said:
“Efficient energy consumption and energy management in the public and private sectors alike are key to sustainable development of Europe and success of our climate action. With its support to Resalta, the EIB continues to contribute to the diversification of local economies and supports job creation in cohesion regions. Together with companies like Resalta we can create smart-city solutions that protect the economy as well as the environment.”
Paolo Gentiloni, European Commissioner for the Economy, said: “I am very pleased that the European Commission is able to continue providing support to Resalta, with this second financing agreement under the Investment Plan. Resalta has a proven track record of offering both public and private sector companies energy-efficiency solutions, such as retrofitting 48 municipal buildings in the City of Ljubljana. More good news: as a direct result of this financial boost, Resalta will employ an additional 50 staff.”
Luka Komazec, CEO of Resalta, said: “Resalta is thrilled to be once again benefitting from the European Investment Bank financing, this time via the EUR 12m growth finance facility under the Investment Plan for Europe. Resalta shares the values and mission of the Bank’s climate action policy and works hard to bring the energy landscape of SEE and the Western Balkans up to EU standards. This loan will allow Resalta to build on its momentum and expand its operations as the leading independent provider of energy services in SEE, with a stronger emphasis on smart energy management systems and digital solutions for energy efficiency. We are very honored that the EIB has recognized the impact that Resalta’s projects have not only on reducing GHG emissions and helping preserve the environment, but also on local economies through support to municipalities, businesses and creating jobs.”
The EIB Loan will allow Resalta to invest in market development and strengthen its position in Slovenia, Croatia, Bulgaria, as well as Serbia and the Western Balkans. This will allow the company to position itself as one of the major providers of bespoke energy efficiency solutions in this part of Europe.
To facilitate market development, Resalta will use EIB loan to create up to 50 new jobs, nearly doubling its number of employees, and decrease the energy costs and consumption for their clients – a move which benefits the environment as much as the economy.
The EIB provided Resalta with €6 million in equity in April 2019 which was also backed by the Investment Plan.
Note to Editors:
About the European Investment Bank:
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
About the EIB in Slovenia:
Total EIB lending commitments in Slovenia since the start of EU`s Bank operations in the country reached EUR 6.99bn. The EIB invested in key sectors of the Slovenian economy, including transport, the environment, energy infrastructure, manufacturing and services. A key component of the EU Bank’s activity in Slovenia is the promotion of small and medium-sized enterprises by increasing their access to long-term financing through local financial institutions. To date, the EU bank supported more than 5000 Slovenian SMEs sustaining more than 44000 jobs in the process.
Resalta is a leading independent energy services provider in SEE. Present in ten markets, Resalta offers public and private clients alike carefully tailored energy efficiency solutions through the ESCO model. Its turnkey solutions cover everything from project design, implementation, operations and maintenance to financing, allowing clients to renovate their energy systems and save money with no own investment. One of Resalta’s benchmark projects is the energy retrofit of 48 municipal buildings in the City of Ljubljana, which won the European Energy Service Award given by the European Commission for best energy service project in 2019. In addition to energy efficiency, Resalta also develops renewable energy projects and power plants throughout Central and Southeastern Europe, with a strong focus on solar PV technology. Through its work with municipalities and private clients, Resalta’s impact on raising awareness and promoting energy efficiency and renewables has resulted in lowering CO2 emissions and energy intensity in the region.
About the Investment Plan for Europe
The Investment Plan for Europe was launched in November 2014 to reverse the downward trend in investment levels and put Europe on the path to economic recovery. Its innovative approach based on the use of an EU budget guarantee provided to the EIB Group has enabled and continues to enable substantial public and private sector funds to be mobilised for investment into strategic sectors of the European economy. The Investment Plan has already generated over €460 billion of investment, and supported more than 1.1 million start-ups and SMEs across Europe. Find the latest EFSI figures by sector and by country here, or see the FAQs.
Launched at the end of 2016, the European Growth Finance Facility (EGFF) is a programme developed by the EIB and supported by the European Commission that seeks to bridge a persistent market gap in growth financing. The programme targets to provide equity-type risk finance to highly innovative, high growth European SMEs and midcaps. To date, signatures under EFSI programme loan “European Growth Finance Facility” amount to EUR 1.8bn after the completion of 80 deals.
European Investment Bank
European Commission (Brussels):
Siobhan Millbright Tel.: + 32 2 29 57361, E-mail: email@example.com
European Commission (Ljubljana):
Marko Vukovic, Tel.+386 1-2528800, E-mail: Marko.VUKOVIC@ec.europa.eu
Mia Kovačič, firstname.lastname@example.org, tel.: +386 51 414 332
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