European Investment Bank provides €300 million loan to improve energy efficiency of home appliances

December 21st, 2011 by European Investment Bank

The European Investment Bank (EIB) is supporting a development project to be carried out by BSH Bosch und Siemens Hausgeräte GmbH (BSH) involving energy efficiency in the home.

Washing machines, driers and refrigerators offer considerable potential for saving energy.

BSH is planning an extensive development project to lower domestic electricity consumption and reduce water consumption.

The EIB is involved in financing the project with a € 300 million loan.

BSH is the market leader in the field of resource-saving domestic appliances. The company carries out research and development (R&D) in five locations in Germany, investigating the potential for improving energy efficiency and saving resources across a wide range of domestic appliances.

Small household appliances as well as larger ones such as refrigerators, washing machines and driers are to be further optimised in terms of their energy consumption.

Energy efficiency will play a crucial role in attaining the EU-wide energy and climate objectives.

With the “Europe 2020” programme, the Union has set itself the target of increasing energy efficiency by 20%, reducing greenhouse gas emissions by 20% (compared to 1990) and raising the share of renewable energy to 20% by 2020.

The EIB takes account of these objectives in the projects it finances: 30% of the total loans that the Bank provided in the European Union (EU) in 2010 involved climate protection.

On the occasion of the signing of the contract EIB Vice-President Matthias Kollatz-Ahnen pointed out that “Energy efficiency is the easiest way to reduce energy consumption and carbon dioxide emissions.

BSH, with its expertise in superefficient domestic appliances, promotes pioneering industrial research and development. In this way it makes an important contribution towards meeting the EU’s 2020 objectives and the particularly ambitious German climate objectives.”

“With superefficient domestic appliances we can make a significant contribution towards climate protection.

Energy efficiency is the simplest and quickest lever for achieving climate protection, given that the best electricity is the kind that is not consumed”, as Kurt-Ludwig Gutberlet, BSH’s Chairman and CEO, put it.


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