Slovak Investment Holding will provide a € 4 million loan to ESCO Slovensko, and the supported investments will be directed towards energy saving of enterprises
Bratislava, January 10, 2023 - Slovak Investment Holding (SIH) and ESCO Slovensko Group have signed a € 4 million loan agreement. The loan will create opportunities for projects aimed at increasing companies' energy efficiency while reducing greenhouse gas production.
The market for energy-efficiency products and services in Slovakia is undergoing important developments. It is influenced by the growing emphasis of domestic and European policies on environmental sustainability, as well as regulatory changes in the energy efficiency field in Slovakia, especially in the segment of guaranteed energy services (GES). In addition, Slovak Investment Holding sees the development of the energy services market as one of the key areas needed to achieve climate goals within Slovakia.
The signed loan agreement between SIH and ESCO Slovensko Group, the dominant provider of GES services, will also support the fulfilment of energy savings and efficiency targets. The loan funds provided are tied to long-term investments by companies in energy efficiency, which is also reflected in the set maturity of the loan.
The agreement was signed on behalf of SIH by Peter Fröhlich, CEO and Chair of the Board of Directors, and Miloš Ješko, CFO and member of the Board of Directors. ESCO Slovensko was represented by Naďa Hartmann, CEO and Chair of the Board of Directors, and Juraj Mihaľ, CFO and member of the Board of Directors.
ESCO Slovensko
ESCO Slovakia specialises in economical and ecological energy solutions for administrative, commercial and residential premises, industrial complexes, and solutions for municipalities and cities. The Group consists of several specialised and closely cooperating companies, thanks to which ESCO Slovakia offers its clients comprehensive solutions, from consultation and specification of the client's real needs, through the design and implementation of appropriate measures, to the subsequent management and servicing of the facilities. The Group's offer also includes financing the implemented projects in a way that minimises the client's risk by repaying the project from the achieved energy savings.
Slovak Investment Holding
SIH is a 100 % state-owned joint stock company. Its primary mission is to support strategic public and private investments in Slovakia in the areas of infrastructure, energy efficiency, waste management, cultural and creative industries, social economy and small and medium-sized enterprises. It draws its funding from the European Structural and Investment Funds. SIH finances projects exclusively in a repayable form, i.e. through financial instruments and not through grants.