Although ESCO companies exist for more than half a century, only recently has the interest in ESCO model implementation increased. The aim of the ESCO projects is to reduce energy and maintenance cost by installing new and more efficient equipment and optimizing energy systems, which ensures investment repayment through savings in the period of 5 or 8 years, depending on client and project. The risk of savings being achieved is assumed by an ESCO company by giving guarantees to the client in accordance with the international protocol.
HEP ESCO is a Croatian publicly owned energy service-providing company which develops, implements and finances energy efficiency projects on a commercial basis. Projects include energy efficient modernization, reconstruction and refurbishment of existing plants and facilities including installation of renewable energy sources. After the investment is repaid, HEP ESCO withdraws from the project and passes all benefits to the client.Novigrad, Croatia.