3 September 2012: The European Bank for Reconstruction and Development (EBRD) announced the continuation of its support for sustainable energy in Ukraine, by helping increase the use of renewable energy at a sugar plant. The project will decrease the plant’s natural gas consumption by 46%, water consumption by 10% and achieve a reduction of greenhouse gas (GHG) emissions of around 15,000 tonnes of carbon dioxide (CO2) per year, eventually reaching up to 35,000 tonnes per year.

EBRD’s Agribusiness Sustainable Investment Facility is providing a loan of up to $US12 million to the Astarta company’s plant in the Poltava region, central Ukraine.

EBRD reports that, in addition, as part of its involvement with Astarta, the company signed two carbon credit agreements with the Multilateral Carbon Credits Fund based on the Joint Implementation mechanism under the Kyoto Protocol. [EBRD Press Release]