EBRD to help finance biomass boiler for Moroccan Lesieur Cristal

Sep 16, 2013 - The European Bank for Reconstruction and Development (EBRD) said Monday it would extend a loan of EUR 2.5 million (USD 3.3m) to support the installation of a biomass boiler for Moroccan edible oil and soap maker Lesieur Cristal.

The biomass facility will use as fuel processed olive waste. It will double Lesieur Cristal’s use of renewables and bring to over 50% their share in the firm’s thermal energy consumption.

The biomass project will allow Lesieur Cristal to save 4,400 tonnes of fuel equivalent annually and cut its greenhouse gas emissions by some 12,500 tonnes. Furthermore, the firm will be able to receive around 12,000 Reduced Emission Units (REU) of carbon credits that can be traded on the European Carbon Market.

The EBRD’s Energy, Environment and Climate Change team will claim the carbon credits in the future, the lender said. The EBRD will also carry out an energy audit of Lesieur Cristal’s processes to identify additional options for energy savings.

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