News

EBRD Invests in Energy Efficiency Upgrades in Slovakia

3 July 2012: The European Bank for Reconstruction and Development (EBRD) has approved a 8.5 year loan of US 150 million to the сentral European energy company MOL Group to modernize its Slovakian member, Slovnaft Group, a refining and petrochemical company. 

Slovnaft Group will use the proceeds of the loan to install a new Low Density Polyethylene (LDPE) petrochemical unit and upgrade the plant's steam cracker, to improve its carbon efficiency. The new equipment will reduce carbon dioxide emissions by about 80,000 tons annually.

This investment is part of the EBRD's Sustainable Energy Initiative (SEI) that has invested a total of €8.8 billion in energy efficiency projects in 29 countries. [EBRD Press Release]