By the ceremonial signing of Loan Agreement, the proceeds of which come from a special fund of the Government of the Republic of Germany entitled International Climate Protection Initiative, HEP was extended a loan in the amount of 50 million euro and a donation of 600 thousand euro.
The loan was made possible by the German development bank Kreditanstalt für Wideraufbau (KfW) and is part of an international climate change initiative which promotes energy efficiency and investment in renewable energy sources. The agreements were signed by Ivan Mravak and Roland Siller, Senior Vice President of Kreditanstalt für Wideraufbau. The signing ceremony was also attended by Andreas Haack, Deputy Ambassador of Germany to Croatia, Dr. Claudia Loy, KfW Director for Energy and Transport Europe, Gordana Lučić, Director of HEP-ESCO, and Goran Slipac, Director of HEP Obnovljivi izvori energije. In his address Mr Mravak recalled HEP’s commitment to the implementation of energy efficiency projects through its daughter company HEP ESCO and HEP’s positioning in the area of renewable energy sources through its company HEP Obnovljivi izvori energije. “The trust expressed by this loan, especially in a period of crisis in the world financial market, confirms HEP as a reliable and serious partner”, concluded Mr Mravak.
International Climate Protection Initiative will provide funding on very favourable terms, including a 15 year repayment period, a 5 year grace period and a very favourable interest rate of 4.5 percent.
