Resalta, Sustainable Energy Company, Wins €6m EIF Funds

By , 04 Apr 2019, 12:30 PM Business
Resalta, Sustainable Energy Company, Wins €6m EIF Funds

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STA, 2 April 2019 - The Slovenian provider of energy and sustainable solutions Resalta will get an EUR 6m capital injection from the European Investment Fund (EIF) and private investors. The resources will help the company make a transition from a start-up to a major international energy provider.

Resalta and the EIF, whose main shareholder is the European Investment Bank (EIB), signed the investment agreement on Tuesday, striving to further develop the company's independent energy services and renewable energy solutions, thus investing into a positive impact on Slovenia and the EU's economy as well as on the environment.

The investment will be guaranteed by the European Fund for Strategic Investments (EFSI), the key part of the Investment Plan for Europe, also known as the Juncker Plan.

Half of the recapitalisation amount will be provided by a joint instrument of the EIF and the Slovenian Development Bank (SID), with the other half provided by the Bulgarian BlackPeak Capital investment fund and private investors.

Resalta was established by three Slovenian major companies - home appliances maker Gorenje, gas wholesaler Geoplin, and the capital's public utility company Energetika Ljubljana - and is present in eight markets, including Slovenia, Bulgaria, Croatia, the Czech Republic, Italy, North Macedonia, Montenegro, and Serbia, doing business with individual clients, companies, and municipalities.

The company endeavours to assist its clients in reducing carbon emissions and energy consumption, saving on energy-related costs.

The EIF pointed out that the company has developed and implemented solutions that saved 300GWH of electric energy, thus reducing carbon emissions by 30,000 tons per year, which is equal to planting 3,400 hectares of forest.

Contributing to the City of Ljubljana's project, Resalta also reduced carbon emissions in a number of the municipality's facilities and was given the European Energy Service Award by the European Commission for this achievement.

The company's CEO Luka Komazec said that the investment was an important stepping stone to Resalta's development, helping them develop new energy service projects and transforming the region into a more eco-friendly environment.

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