OREANDA-NEWS. October 20, 2010. The EBRD and Russian Railways (RZD) agreed to join forces in order to increase the energy efficiency of what is not only one of the world’s largest transport companies, but also one of Russia’s biggest energy users, reported the press-centre of EBRD.

EBRD President Thomas Mirow and Russian Railways President Vladimir Yakunin signed a Memorandum of Understanding (MoU) in Moscow outlining how the Bank and Russian Railways plan to achieve this goal. The MOU provides for the establishment of a joint working group to coordinate energy efficiency activities.

This MoU not only deepens our cooperation with such a high-profile company in an area that is at the core of the EBRD’s mandate but also demonstrates the benefits of energy efficiency to other Russian businesses and the rest of the national community, Mr. Mirow said at the signing ceremony. 

In the MoU, RZD and the EBRD said they intended to cooperate on the development of long-term energy efficiency policies and investment programmes across RZD operations.

The two sides will also consider developing a pilot project focused on modernisation and implementing best-practise energy efficiency technologies, including renewable energy sources, at railway stations and other infrastructure in selected areas.

Both sides pledged to work on developing corporate policies and standards based on international best practise in the railway sector to promote energy efficiency and mitigate RZD’s carbon footprint.

The EBRD has invested over USD 1.4 billion in 11 railways and associated projects in Russia since the government in 2001 launched a structural reform of the sector.

Since the launch of its Sustainable Energy Initiative in 2006, the Bank has in addition invested nearly USD 2 billion in more than 60 energy efficiency projects in Russia.