| Project Detail |
The Project aims at reducing the operating cost of the street lighting system in the City through the introduction of modern energy efficient technologies. The Project will not only modernise the infrastructure and secure better service provision, but also introduce better contractual arrangements to run the system.
The Project will introduce modern energy efficient street lighting technologies and effective system management structure, which will significantly reduce energy consumption and, as the result, operations and maintenance costs. The Project will ensure increased reliability of service, as well as providing wider street lighting service coverage.
The transaction will introduce appropriate corporate governance standards with a performance based Public Service Contract (PSC) developed and signed between the Company and the City promoting efficiency of the sector, a transparent compensation mechanism and setting quality standards for municipal street lighting. The PSC will include specific energy saving commitments made by the Company as well as payments related to the performance of the Company.
Bishkek Street Lighting Company BishkekSvet, a municipal company wholly owned by the City, is the ultimate beneficiary of the Project. The City will provide the overall institutional support for the Project implementation and facilitation of sector reforms.
The total cost of the project is EUR 10 million, including the EBRD/GESF loan(s), and the capital grant from an international donor.
EBRD is considering providing a sovereign loan to be on-lent to the Bishkek City for the project.
The Project will finance modernization of the street lighting infrastructure through the following components:
(i) installation of modern street control and monitoring system;
(iii) partial rehabilitation of the street lighting infrastructure; and
(iv) installation of light-emitting diodes ("LED") luminaries.
In addition to the investment part of the Project, the Bank will provide TC grants for the project implementation support and financial and operational performance improvement programme for the Company in order to ensure its long-term sustainable development. |
