ESCO Project in the City of Korosten: Modernization of Street Lighting

The Panorama Group of Companies has implemented a large-scale energy service project in cooperation with the NGO Ukrainian Association of Energy Service Companies and the UNDP program “Removing Barriers to Promote Investments in Energy Efficiency of Public Buildings in Small and Medium-Sized Cities of Ukraine through the ESCO Mechanism.”

Thanks to the modernization of the street lighting system, the city received modern energy-efficient lamps, achieved significant energy savings, and reduced municipal budget expenditures.

Contract terms:

• Number of lamps to be replaced: 2,500 units

• Contract value: UAH 47.9 million

• Contract term: 11 years

Results:

• Annual electricity savings: 778.0 MWh

• Annual financial savings: UAH 5.5 million

The ESCO mechanism allowed the city to modernize without budget expenditures: investments are repaid exclusively from the savings achieved.

Such projects are not only about street lighting and energy independence — they are about safer and more comfortable living in communities.

We turn change into reality and build the future of an energy-efficient Ukraine.