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The proposed project will make Croatia’s economy less energy intensive by establishing an economically and environmentally sustainable market for energy efficiency projects and services. It will do so by creating a core developer of energy efficiency projects within HEP, the national power utility. The new energy service company, ESCO, will promote, develop and finance energy efficiency projects.
Financial mechanism
GEF
Date of approval
Status
Completed
Countries
Managing organisations
Hrvatska Elektroprivreda (HEP, the Croatian electricity utility) for the IBRD loan, GEF contingent grant, and GEF technical assistance
an independent financial intermediary for the GEF guarantee
Implementing organisations
World Bank
Project ID
944
GEF project type
Full size
GEF project phase
GEF - 2
GEF Cofinancing
$32.800.000
GEF project grant
$7.000.000
Executing Agencies
Hrvatska Elektroprivreda (HEP, the Croatian electricity utility) for the IBRD loan, GEF contingent grant, and GEF technical assistance; an independent financial intermediary for the GEF guarantee