The First Energy Performance Contracting was concluded with third party financing between the Energy Service Provider E&B (ENERGY & BEYOND) LTD and Food Processing Company PARADISIOTIS LTD.
The Contract is legally covered by the Energy Efficiency during End-Use, and Energy Services Laws of 2009 to 2014, and the Regulations issued by the Laws, R.A.A. 201/2014 on “Energy Services Providers”. Funding was provided by a third-party investor with private funds.
The multi-annual Energy Performance Contracting guarantees an annual Energy Savings of around 480000 kWh through a Photovoltaic System, consisting of photovoltaic panels of the leading German company ALEO SOLAR GmbH with guaranteed quality and performance over 25 years. The photovoltaic system has been licensed for installed power of 300 kWp, and installation will be carry out by SUNTECHNICS LTD, a subsidiary of GDL Green Energy Group Ltd.
PARADISIOTIS LTD throughout the duration of the Contract will have an economic benefit of more than 10% compared to regular grid supply as well as other investment benefits by the long life of the photovoltaic system.
With the use of this specific PV system, a significant saving in carbon dioxide emissions CO2 of 364 tons per year is also achieved.