RFNY2013: Invest In Moscow - Energy Services
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Presentation was made during the Russia Forum New York 2013 series - “Invest in Moscow: Doing Business in Russia’s Capital” which was held at the Princeton Club of New York on October 28th.
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RFNY2013: Invest In Moscow - Energy Services
- 1. Department for External Economic and International Relations of Moscow Investment Project: Energy Service in Street Lighting Vakhtang Partsvaniya Deputy Head of Foreign Economic Affairs Office Moscow Investment Presentation in New York City, October 28, 2013
- 2. Energy Service Performance Contract (ESP Contract) 1 The ESP Contract is introduced into Russian legislation by Federal Law N 261FZ (2009) 2 The ESP Contract provides a modernization of municipal infrastructure through investor funding 3 Local administration pays back the investors from money saved through energy efficiency 4 Investor repayment will be made within the contract period (5-7 years) The city gets renovated municipal infrastructure and energy cost savings of up to 50-70% Department for External Economic and International Relations of Moscow 2
- 3. ESP Contract: General Scheme Energy service company (ESCO) Modernization of municipal infrastructure Improved energy efficiency Savings in city budget Return payments from energy savings Department for External Economic and International Relations of Moscow 3
- 4. ESP Contract: Key Parties Bank / Investor Financing 2 5 3 ESCO ESP Contract 1 Payments 4 Suppliers / Contractors Payments (= savings) Client Department for External Economic and International Relations of Moscow 4
- 5. Market Segmentation Cities Industry Street lighting Lighting Public buildings On-site generation Heating systems other Main customers Source of repayment – energy baseline is fixed in the city budget for the term of the ESP contract Department for External Economic and International Relations of Moscow 5
- 6. Typical Problems in Street Lighting in Russian Cities Outdated and inefficient street lights with sodium and 1 mercury lamps Extremely high energy consumption covered by city 2 budget resources Lack of budget funds needed for modernizing outdated 3 lighting equipment Street lighting standards, regulations and rules are often 4 partially satisfied Department for External Economic and International Relations of Moscow 6
- 7. Market Potential in Russia 13 cities population > 1M 24 cities 0.5 – 1M 37 cities 0.25 – 0.5M Market potential 74 Major cities 4 Have ESPCs $ 500M Department for External Economic and International Relations of Moscow 7
- 8. Moscow Potential Total number of street lights 385,000 Number of street lights to be modernized 170,000 Moscow budget annual energy expenses $41M Required investments $60M Energy savings (per year) $17M Term of contract 6 years Future value $100M NPV (discount rate = 14%) $30M 3 pilot zones in 2013 25,000 street lights Department for External Economic and International Relations of Moscow 8
- 9. Pilot Zones: Installed Luminaries in the Selected Areas Sodium lamps: ЖСП-70 НАТР-100 ВЕБ-150 ВЕБ-250 СППР-70 СППР-125 РКУ-125 РКУ-250 Mercury lamps: 3 pilot zones include: 25,000 lighting points Annual Moscow budget energy expenses Investments in modernization $2.7M $5M Energy Savings (per year) $1.3M Term of contract 6 years Future value $7.5M Department for External Economic and International Relations of Moscow 9
- 10. Department for External Economic and International Relations Address: 13, Tverskaya str., Moscow, 125032 Tel.: +7 (495) 633-68-66 Fax: +7 (495) 633-68-65 www.dvms.mos.ru www.investinmoscow.ru E-mail: dms@dms.mos.ru INVEST IN MOSCOW