About company


Closed Joint Stock Company “Ukrainian Energy Service Company” (UkrESCO) is the first energy saving service company in Ukraine and CIS countries, which implements “turn key” energy saving projects, involving financing from European Bank for Reconstruction and Development (EBRD) funds.

UkrESCO was founded in 1998 in pursuance of Loan Agreement provisions “Financing of Ukrainian ESCO” between Ukraine and EBRD dd. 09.05.98, been ratified by the Law of Ukraine No.648-XIV dd. 13.05.99. Accordingly to the mentioned agreement Ukraine was provided with purpose loan (financing of energy saving projects for small and medium enterprises) in the amount of USD 20 million. The loan was successfully drawn down. The finds in full volume (including all commissions and fees) and in proper time was repaid to EBRD. And it was the significant substantiation for the next proceeds submission in the amount of USD 20 million. At thev present moment UkrESCO is successfully realizing the energy saving projects, providing financing by the EBRD loan funds (excluding Ukrainian taxes and charges) under the Loan Agreement provision performance “Financing of Ukrainian ESCO (phase II)” dd. 21.10.05? ratified by the Law of Ukraine No.3536-IV dd. 15.03.06.

UkrESCO is leader among the companies, implementing energy saving projects as ‘turn key” at the small and medium enterprises of Ukraine. Upon the conditions of commodity credit the Company successfully implemented 24 energy saving projects at the number of Ukrainian enterprises. The projects cost constitutes from USD 200 thousand to 5 million. The projects payback period is 1-4 years, the commodity credit term is up to 4 years. Due to such energy saving projects implementation the energy carriers’ consumption is reduced for 25-50 percents. All projects, implemented by UkrESCO accordingly to the EBRD demands, is ecologically friendly.

The main condition for projects realization and EBRD financing involving is the solvency of the company-client and its security provision regarding commitments performance, namely: (a) mortgage in the value not less than 140% from project cost, or (b) unconditional irrevocable bank guarantee for the amount not less than 100% from the project cost

Moreover, UkrESCO performs the energy audits of the enterprises, including audits of investment class.

Our clients are the enterprises, which have a leading position in Ukrainian economy: CJSC “Voznesenks Tannery “VOZKO”, CJSC “Kupyansk Condensed Milk Plant”, OJSC “Shostka Dairy”, OJSC Gostomel Glassworks”, CJSC “Krymskiy Titan”, CJSC “Orel-Leader”, CJSC “Confectionery “A.V.K.”, Dnipropetrovsk”, “Keramikbudservice” LLC, SE ““Experimental Enterprise “Askaniyskoye” of the Oil-Bearing Crops Institute of Ukrainian Academy of Agricultural Sciences”, etc.

UkrESCO works in the sphere of energy saving as a business structure, combining European values, national experience and traditions.

Vasyl M. Bogatyr

General Director of CJSC “UkrESCO”