E-Star, Hungary - Romania

Environmental and social due diligence on E-Star (http://www.e-star.hu/index.phpfor the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC), who were considering providing both debt and equity financing to E-Star, specialising in energy services in the municipal sector (district heating and public lighting) to finance the following 3 sub-projects in Romania:

Gheorgheni (population 20,000) - a two-phased 25-year concession to supply, operate and maintain the town's district heating system. The estimated investment of EUR 15.9 mln will cover the upgrade of DH system, incl. installation of a new biomass boiler and CHP plant of approx. 15MWt capacity, using primarily waste biomass from the local furniture prodicer and forestry waste;

Zalau (population 62,000) - a 49-year concession to operate the city's DH system. The estimated investment of EUR 20.6 mln will cover modernisation of the DH system, incl. installation of new 6 MWt biomass-fuelled hot water boiler, 25 MWt natural gas boiler and 18 MWt natural gas steam turbine;

Targu Mures (population 145,000) - a 25 year concession to modernise the city's DH system. The estimated investment of EUR 14.2 mln will include new biomass boiler and CHP plant for central DH with initially approx. 9 MWt capacity.