• English

Press Releases

For media enquiries, please contact info.ece@unece.org


UNECE Awards Major Contracts to Finance Energy Efficiency Investments for Climate Change Mitigation

Published: 02 December 2008

Geneva

The Committee on Sustainable Energy of the United Nations Economic Commission for Europe (UNECE) welcomed the award of three contracts for work on energy efficiency announced during its recent annual session (Geneva, 19-21 November). The “Financing Energy Efficiency and Renewable Energy Investments for Climate Change Mitigation” project moved closer to launching an Investment Fund to reduce greenhouse gas (GHG) emissions in 12 countries of Eastern Europe, South-Eastern Europe and Central Asia [1]. Following an international competitive bid tender process carried out by the United Nations Office at Geneva procurement services, three major contractors have been selected to assist in the process of designing and launching the Fund, analysing policies and providing communications to the project.

Conning Asset Management Ltd, United Kingdom (www.conning.com) has been selected as the Investment Fund Designer and awarded a contract offer for 12 months in the amount of US$ 1,250,000. Under the terms of the contract, Conning will structure and prepare the investment fund; analyse the financial, legal and fiscal issues; solicit public sector entities and private sector investor participation; and prepare the terms of reference for an experienced fund manager. Conning, a wholly-owned subsidiary of Swiss Reinsurance Company, provides investment advisory, portfolio management and investment accounting and reporting services. Conning is one of the Principals of the European Clean Energy Fund, developed and established in 2007 under the auspices of UNECE, to provide capital for European clean energy projects in the EU member states.

Pöyry Energy Consulting AG, Switzerland (www.poyry.com) has been awarded a contract offer for 12 months in the amount of US$ 988,300 to undertake Regional Analysis of Policy Reforms to Promote Energy Efficiency and Renewable Energy Investments. The contractor will collect and analyse economic and energy policy data from the 12 participating countries; prepare an analytical report and case studies that will be issued as a publication by the United Nations; and present the findings to senior policymakers. Among the tasks included in the contract are identification of specific policy, regulatory and institutional “bottlenecks” to energy efficiency and renewable energy market formation and analysis of how policy reforms could transform economically attractive investment projects into bankable projects. Pöyry Energy Consulting is the management consulting division within Pöyry Energy (Finland), one of the world’s leading companies in hydropower, renewable energy, combined heat and power generation and district heating.

The Centre for Energy Efficiency EnEffect, Bulgaria (www.eneffect.bg) has been selected to undertake the Development of a Website and Internet Communications Network of Energy Efficiency Managers in Eastern Europe and awarded a contract offer for 36 months in the amount of US$ 497,230. EnEffect will establish a website for the project and local teams of energy efficiency managers in each of the 12 participating countries; provide software applications to identify, select, develop, finance and implement energy efficiency and renewable energy projects and analyse GHG emissions; and develop on-line training for local teams for Internet communications and software use, as well as provide a platform for on-line investment project development training courses. EnEffect, a Bulgarian non-governmental organization working in energy efficiency, has been active in the development of markets for energy efficiency projects and services using up-to-date information technologies.

The “Financing Energy Efficiency and Renewable Energy Investments for Climate Change Mitigation” project is part of the UNECE Energy Efficiency 21 (EE21) Project that promotes the formation of an energy efficiency market in Eastern Europe, South-Eastern Europe and Central Asia so that cost-effective investments can provide a self-financing method of reducing global GHG emissions. UNECE has received grants totaling US$ 7.5 million from the United Nations Foundation, Fonds Français pour l’Environnement Mondial and the Global Environment Facility for its implementation. The Investment Fund will not, however, be managed by UNECE but will be a separate legal entity aligned with EE21.

The awards are posted on the UNOG website:
www.unog.ch/80256EDD006AC19C/(httpPages)/6867EAB0E105F23380256EED0060E8BF

For further information, please contact:

Mr. Alexandre Chachine

Officer-in-Charge, Sustainable Energy Section UNECE Sustainable Energy Division Palais des Nations, Office 380 CH-1211 Geneva 10, Switzerland

Phone: +41 (0) 22 917 2451
Fax: +41 (0) 22 917 0038
E-mail: info.energy@unece.org

Website: http://www.unece.org/energy/ and http://www.ee-21.net

[1] Albania, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Kazakhstan, Republic of Moldova, Romania, Russian Federation, Serbia, the former Yugoslav Republic of Macedonia, and Ukraine.

Ref: ECE/SED/08/P05


United Nations Economic Commission for Europe

Information Unit

Palais des Nations, 

CH-1211 Geneva 10, Switzerland

Tel.: +41 (0) 22 917 44 44

Fax: +41 (0) 22 917 05 05