The EBRD and Rusnano, the Russian state corporation set up to kick-start the development of innovative technologies, have jointly agreed to finance a new production line that will manufacture energy-saving glass. The industrial partners in this project, which will use state-of-the-art technology to launch a new float glass line and glass coating facility in the Moscow region, are Japan;s NSG Group and privately-owned STiS, Russia's leading producer of insulated glass units. Under the terms of the agreement, EBRD will contribute the equivalent of 35M Euros in common equity while Rusnano will contribute the rouble equivalent of 70M Euros in common equity. The rest of the financing will come from other sources and financial instruments. The building sector is the largest energy end-user in Russia, accounting for a third of all final energy consumption. Comparisons with Norway, which has a similar climate, indicate potential energy savings between 40-60% for the sector.
