EBRD will provide funding to invest in a new biomass furnace which will burn bark waste gathered during wood processing at the plant, saving over 13,000 tons of CO2 per year.
17 November 2011: The European Bank for Reconstruction and Development (EBRD) announced it would finance the creation of the first Russian plant producing Oriented Strand Board (OSB), a type of wood panelling.
EBRD is providing long-term funding of EUR 120 million to OOO Kronospan, a major importer of OSB into Russia. The loan has an important energy efficiency component because it will involve investment in a new biomass furnace, which will burn bark waste gathered during wood processing at the plant. This furnace will reduce the company’s greenhouse gas emissions by over 13,000 tons of CO2 per year. [EBRD News]