Ukrgasbank provides 7.2 mln hryvni to YASNO EE under UNIDO Guarantee Fund

MOSCOW. Dec 12 (Interfax) - The state-run Ukrgasbank in Kiev has signed a 7.2-million-hryvni (200,000-euros) loan agreement with YASNO Energy Efficiency under the UNIDO Loan Guarantee Fund's project (implementation of the energy management system standard in Ukrainian industry), Ukrainian media said, citing the bank website.

"YASNO EE will spend the loan on implementing energy saving technologies at a major Ukrainian manufacturer of raw materials for the metallurgical industry. The enterprise will thus be able to cut the annual power consumption by over 1 mln kW/h and save up to 71% of energy," the press release said.

As reported, the DTEK energy holding established in 2005 to manage energy assets of Rinat Akhmetov's SCM Group brought the YASNO retail energy brand to the market. It currently supplies electricity to 3.5 million Ukrainians.

YASNO has the Energy Efficiency division, which defines itself as the country's largest energy service company providing comprehensive energy efficiency services and energy efficiency investment by ESCO mechanism. The division has reported implementing over 100 energy service projects and the overall value of energy service contracts exceeding 3 billion hryvni as of the beginning of the conflict.

"We hope that cooperation with UNIDO in this format will help launch more extensive projects and will draw attention of international ESCO implementing them in Ukraine," the press release quoted YASNO CFO Tatyana Gryaznova as saying.

Ukrgasbank and the UNIDO project launched the Loan Guarantee Fund in 2020 for industrial energy efficiency. The fund initially offered industrial enterprises up to $150,000 (or a hryvni or euro equivalent) for energy efficiency projects. The mechanism is structured by a loan repayment guarantee. The fund confirms the guarantee for Ukrgasbank via the Irish CITI Bank. Terms were recently updated and the fund's operation was extended until the end of 2025.