SMAFIN 1 Romania (RO)

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SMAFIN 1 Romania (RO)

A/A	RO
BEST PRACTICE	Commercial loan granted to Chimcomplex S.A. Borzești to finance investments in a modern and efficient calcium chloride production plant and two cogeneration power plants
Best Practice
Financial scheme used	Fondul Roman pt Eficienta Energiei Romanian Fund for Energy Efficiency
Website/link	https://free.org.ro/cel-de-al-39-lea-contract-de-finantare-si-cel-de-al-treilea-imprumut-acordat-s-c-chimcomplex-s-a-borzesti/
Organisation	CHIMCOMPLEX S.A.
Organisation
More Information on the BP	On May 17, 2018, The Romanian Energy Efficiency Fund awarded S.C. Chimcomplex S.A. Borzești, Bacău county a commercial loan worth 2,000,000 US dollars, to finance an investment totalling 9,985,000 US dollars The investment, aims to make the production and consumption of energy within S.C. Chimcomplex S.A. Borzești more efficient, by integrating into the company a plant for the production of calcium chloride granules with a capacity of 30,000 tons / year. The profile considered for the analysis of the opportunity, from the point of view of energy efficiency, to make this investment, included the calcium chloride production plant, the M electrolysis plant and the two co-generation plants. The analysis also took into account the favorable impact of the operation of the calcium chloride production plant on the operation with quasi-constant electricity consumption of the ion exchange membrane electrolysis plant (5th generation, among the best in the world), under the conditions of full use of the amount of chlorine resulting from the electrolysis process. At the same time, it was also considered that the entire amount of electricity related to the increase of electricity consumption in electrolysers and electricity consumption in the calcium chloride plant is produced by the company's cogeneration plants. Finally, it was taken into account the favorable impact of the operation of the calcium chloride plant on the production of energy in the company, through the energy recovery of a renewable energy source: hydrogen resulting from the electrolysis process, by producing electricity and heat in co-generation and for the production of steam in one of the steam boilers of the thermal power plant. The significant energy savings were estimated at about 14,777 toe / year, implicitly representing annual reductions in carbon dioxide emissions, amounting to 32,214 tons / year. This loan is the third of the same value, obtained by Chimcomplex S.A., the total value was of 6 million US dollars for investments exceeding 33 million US dollars. In total, the energy savings obtained by Chimcomplex, cumulated for the three investments, will be about 37,285 toe / year, representing annual reductions in carbon dioxide emissions, amounting to 84,703 tons / year.
Categorise the bebeficiary Organisation	Private
Beneficiary sector	Industry
Potential of replication on national level	High
Potential of replication on Balkans countries	High