According to the bank's website, this project involves provision of a senior loan of up to EUR 5 million to Gradska Toplana d.o.o. Karlovac (the "Client" or the "Company") consisting of 2 tranches: A) up to EUR 3 million to be committed at signing (the "Tranche A"), and B) an uncommitted tranche of up to EUR 2 million (the "Tranche B").
Tranche A proceeds will support a comprehensive rehabilitation of the City's DH network through the replacement of obsolete hot water pipes and shafts and implementation of SCADA to help enhance the efficiency of the heat distribution network and halve distribution network losses. In addition, the project is expected to result in an annual reduction in greenhouse gas emissions ("GHG") at the level of 3,105 tonnes of CO2 equivalent and 1.10 tons of NOx.
The Tranche B investment will support the incorporation of energy from the renewable sources, which will allow for further energy savings as well as additional substantial CO2 emissions savings.
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Tina Ujevica 7, 47000 Karlovac, Croatia
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