Hrvatska banka za obnovu i razvitak (HBOR) and the City of Opatija have signed a loan contract in the amount of HRK 8 million. The loan funds are intended for the project of modernisation of public lighting in the area of the City of Opatija.
Compared with the mostly outdated and inefficient existing lighting fixtures, the modernisation will enable the city to achieve significant savings in electricity consumption of up to 60 %. These savings will be used to finance the repayment of the loan approved by HBOR through the ESIF Loans for Public Lighting intended for local government units. The loan terms and conditions, on which HBOR provides financing of such energy renovation projects, are very favourable.
The new public lighting system will also have a dynamic software management of public lighting in the city centre, i.e. the possibility to increase and decrease the lighting intensity, which is in accordance with the Smart city technologies and the strategic guidelines of the City of Opatija.