US Government Sponsors Multinational Energy Efficiency Financing Summit

For Immediate Release

Wednesday, April 3, 2013

ALMATY, KAZAKHSTAN April 3-4, 2013. Over 50 representatives of private and public companies from South-Eastern and Eastern Europe, the Caucasus, Central, Northern, South-Eastern and Southern Asia, as well as the Russian Federation and Turkey, are gathering in Almaty to develop bankable project proposals for energy efficiency investment opportunities. This two day event is sponsored by USAID and the UN to teach business planning in the context of global energy efficiency and to encourage the financing of energy efficiency investments, including through public private partnerships.

Representatives of multinational development banks, credit institutions and business companies will share their criteria and experience financing existing energy efficiency projects in the region. Private sector and Ministry leaders will develop business plans and learn to calculate the internal rate of return and payback on energy efficiency investments. Implementing a strong energy management system typically saves 15-20% of energy costs. Recent USAID work with KazPhosphate, KazChrome, Almaty Electricity System and KazakhMys identified impressive cost savings, including more than $1 million in annual savings for KazPhosphate.

USAID Mission Director Anne Aarnes shares her support for this event. “While climate change compels us all to act on energy efficiency, this issue is not just about the environment. It makes sound business sense. There is tremendous potential for return on investment, and we are excited to engage Central Asia business leaders in the development of energy efficiency projects.”