IVEL Consult, working in a team with Bechtel Limited, Nexant Limited and TPF Consulting, were retained by the European Bank for Reconstruction and Development (EBRD) and the European Commission Tacis Program to conduct investment grade energy audits, management and legal advisory services in support of establishing and operating an energy service company (UkrEsco – www.ukresco.com) developing and implementing a wide range of sustainable energy projects across the Ukraine.
UkrEsco develops, finances, and installs technology at end-user facilities to reduce energy consumption, while at the same time providing a guaranteed level of service in terms of energy-related needs. Over a period of 54 months the team of consultants managed the operations of UkrEsco, recruited and trained its staff how to run the company on their own and handed over its management to UkrEsco staff in 2002. In this "know-how" transfer process special attention was paid on how to:
• Develop and market of Energy Efficiency Investment Projects and Energy Services
• Conduct investment grade energy audit to identify energy and operational savings opportunities;
• Run due diligence in respect of provision of project finance for energy equipment upgrade and rehabilitation;
• Structure performance contracts and guarantees for the energy savings to be achieved;
• Manage the implementation of energy efficiency projects and control costs;
• Implement properly operation and maintenance practices for the installed new energy efficient equipment;
• Manage UkrEsco profitably putting in place western standards finance and project accounting systems.
By the end of the project, UkrEsco had a portfolio of viable energy efficiency projects of over US$ 10M in total installed cost, generating the targeted energy savings for its clients and financial returns for the UkrEsco. In addition, a well-trained and capable local UkrEsco staff took over and is currently running the company as well as developing and implementing new projects.