Dalkia, the International Finance Corporation (IFC), a member of the World Bank Group, and the European Bank for Reconstruction and Development (EBRD) have signed a strategic partnership on June 30, 2011 to help Dalkia expand its operations in Estonia, Latvia, Lithuania and Russia.
As part of this agreement, IFC and EBRD will take a minority share (5.5% each) in the capital of Dalkia Eastern Europe, the new subsidiary created by Dalkia to bring together its activities in Russia and the Baltic states. IFC and EBRD will also invest up to €200 million by 2014.
This partnership will help Dalkia become a reference in Russia, the world's largest district heating market, and increase the energy efficiency and sustainability of its installations, mostly developing the use of renewable energies in the Baltic states.