OREANDA-NEWS. November 26, 2013. Sberbank of Russia and Schneider Electric have signed a Memorandum of Understanding and outlined methods of cooperation in order to implement energy efficiency projects, including the use of the energy service model.

The partnership of the companies in the field of energy service contracts will help to implement projects aimed at the improvement of energy efficiency. Using the international expertise and advanced equipment of Schneider Electric, as well as the financial capacity of Sberbank of Russia, energy saving programs will be made more accessible to many Russian clients and the energy and environmental efficiency of Russian companies will be enhanced.

Energy service contracts (or performance contracts) are special forms of agreement for the implementation of measures aimed at reducing costs by increasing energy efficiency and introducing technologies of energy efficiency. A distinctive feature of the energy service contract is that under this type of relationship the energy consumer does not spend his capital initially by implementing a set of measures for energy efficiency. Investment required for the project implementation is instead raised by the energy service company and the consumer reimburses the costs at a later date with the savings achieved as a result of the introduction of energy-saving programs.

“Sberbank of Russia has been actively involved in the work aimed at improvement of the energy efficiency of the Russian companies. The focus of our attention, of course, is our customers from different sectors of the economy, including companies that supply resources. On our platform we integrate technical competences and financial solutions. That’s why it is so important for us to establish partnerships with technology providers with high reputations. We expect synergies from the combination of competences, meaning, first of all, the ongoing development of business from our clients – energy consumers", – said Vsevolod Gavrilov, Director of the Energy Efficiency and Natural Resources Project Management Directorate of Sberbank.

"In Russia, the market for energy services is still in its formative stage, but it has great potential, and the company Schneider Electric has every reason to become one of the key players in this market. Schneider Electric has extensive international experience in the implementation of measures for improving energy efficiency and, in particular, the implementation of energy service contracts. The competitive advantage of Schneider Electric is that the company can implement complex projects on a turnkey basis, relying on an extensive experience and expertise in conducting energy audits, implementation of energy management systems and a wide range of reliable and modern equipment", – said Jean-Louis Stasi, President of Schneider Electric in Russia, Senior Vice President for the CIS countries.