Hungarian energy services company Elmib on Thursday announced the launch of a HUF 2 billion campaign to bring energy-efficient LED technology to more than 400 local councils that recently renovated their public lighting.

Elmib said it is offering to cover the immediate cost of replacing local council's conventional public lighting with LED technology and let local councils pay off the balance from their energy savings. The European Bank for Reconstruction and Development (EBRD) offers support for such investments, the company added.

Elmib is a contracted partner of almost 900 municipalities, or about a quarter of all communities in Hungary, according to the company's website.