foir print

16.11.2010

Innovations in the housing sector in southern Russia

As part of a programme to introduce energy efficiency technologies in the housing sector, Center-Invest Bank, together with Teploenergo (the leading private heating company in the city of Taganrog) held a seminar for representatives of homeowner associations, housing associations and housing management companies.

The seminar participants discussed the implementation of Federal Law No. 261 “On Energy Saving and Increasing Energy Efficiency”, the introduction of energy efficiency technologies in the housing and utilities sectors (communal services), and Center-Invest Bank's energy efficiency loan programme, “Energy Efficient Housing and Communal Services”.

“It is not in homeowners' interests to wait until the last minute to install energy meters, as it will be much cheaper if they do it now,” explained Gennady Valentinovich Dvoryanikov, Teploenergo CEO. “People can pay for the installation of meters themselves, or they can use a loan provided by Center-Invest Bank under its lending programme for homeowner associations and housing management companies. As we know, recent years have seen utility bills increase three times faster than inflation. Therefore, it makes sense to switch straightaway from tariffs that are based on average heat consumption per square metre of living space to ones that are based on actual energy consumption.”

Specialists from Center-Invest Bank spoke about our unique experience of implementing energy efficiency projects on the basis of international best practice and of working together with international financial institutions: IFC, EBRD, and KfW. The positive results will promote the modernisation of housing in southern Russia on a wider scale.

Since 2005, Center-Invest Bank has implemented more than 200 energy efficiency projects in southern Russia with loans totalling RUB2.7bn. We know from experience that energy efficiency projects achieve savings of 40-70% on average.

 Under the Energy Efficient Housing and Communal Services Programme, we provide homeowner associations and housing management companies with loans for energy efficiency purposes, including: installing metering systems (heat, water and electricity meters for whole blocks of flats), energy-efficient windows and various types of automatic equipment, winterizing and repairing walls and roofs, and repairing pipes.

This energy efficiency programme is just one element of Center-Invest Bank's broader programme for the post-crisis economic development of southern Russia. In addition to a social effect, modernisation of the housing and utilities sectors will also have an environmental effect, as it will reduce harmful emissions.