Vattenfall to Head EBRD’s Ukrainian Energy Efficiency Program

Swedish electricity generator Vattenfall is heading the Ukraine Energy Efficiency Program, commissioned by the European Bank for Reconstruction and Development, aimed at reducing the energy consumption of Ukrainian companies.

The Ukraine Energy Efficiency Program (UKEEP) has reportedly resulted in considerable energy savings and reductions in CO2 emissions, according to Vattenfall.

The Swedish company noted that companies in Ukraine use about three times as much energy as their European Union counterparts. In order to reduce the industry’s energy costs, increase its competitiveness and significantly reduce the negative impact on the environment, the European Bank for Reconstruction and Development (EBRD) has decided to launch the UKEEP energy efficiency initiative.

Vattenfall Power Consultant has been assigned as the overall project manager. UKEEP has reportedly financed a number of projects with a total value of about $50 million with considerable success.

The currently financed projects are expected to reduce consumption of gas, oil and coal, equivalent to nearly 900,000MWh annually. In addition, the projects are expected to reduce annual CO2 emissions by 230,000 tonnes.