Mobiasbancă supports the renovation of the streetlights system in Balti

04 Feb 2014

Mobiasbancă - Groupe Société Générale supports Balti Municipality in implementing an energy saving project in order to optimize its expenditures and to meet the commitment for energy efficiency measures.

On January 24, 2014, a financing contract was signed between Mobiasbancă – Groupe Société Générale and the municipal company IM DCC Comanditar Unic, selected to administrate the streetlights system in Balti and to manage the successful implementation of the renovation works.

The project covers a complex range of measures: replacing of existing light corps, implementation of an IT monitoring system, and system maintenance for 5 consecutive years – operational expenses including electricity. Local Council selected the project proposed by Association of Energy Auditors of Moldova (AEAM) as the best one for the implementation of the initiative, as all necessary information was included - energy audit, financial calculations and identified solutions.

Ridha Tekaia, president of Mobiasbancă – Groupe Société Générale, mentioned: „This is the first project of its kind in Moldova and Mobiasbancă is proud to be the partner bank, offering the necessary financing and counseling throughout its implementation. These kinds of energy efficiency projects are in line with the corporate social responsibility policies of Mobiasbancă and Groupe Société Générale and I hope there will be others implemented all over the country”.

By implementing this project, Balti Municipality will comply with the commitments undertaken when signing the Covenant of Mayors (www.covenantsofmayors.eu) on 19 July 2011. The Covenant of Mayors is the mainstream European movement involving local and regional authorities, voluntarily committing to increasing energy efficiency and use of renewable energy sources on their territories. By their commitment, Covenant signatories aim to meet and exceed the European Union 20% CO2 reduction objective by 2020. This action is also in line with the “National Program for Energy Efficiency for 2011-2020” approved through a governmental decision in order to support the initiatives for energy efficiency and reduction of CO2 emission.

Mobiasbancă is the universal commercial bank, serving over 106,000 active clients in the corporate, SME and retail sectors through a network of 56 branches. The bank is a subsidiary of Groupe Société Générale SA, one of the leading financial institutions in Europe, celebrating in 2014 its 150th anniversary.