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Dec 27, 2007 18:31 EEST
December 27 (SeeNews) - Bulgarian special purpose vehicle (SPV) Energetics and Energy Savings Fund, majority-owned by energy-to-construction group Enemona, has borrowed 7.0 million euro ($10.2 million) from the European Bank for Reconstruction and Development (EBRD) to support its energy projects, the fund said on Thursday.
The loan deal, which was signed on Saturday, will be repaid in 23 quarterly instalments, the Energetics and Energy Savings Fund said in a statement to the Bulgarian Stock Exchange. Further details were not immediately available.
The loan will be used for securitisation of energy projects and for utility services, the fund said earlier. Its main line of business is the sale of the so-called ESCO contracts, through which it offers to reduce a client's utility costs, often with the cost savings being split with the client through an energy performance contract or a shared-savings agreement.
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