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2011. gada 15. marts

From strategy to execution:

experience in financing energy efficiency projects

Ieva Tetere, Board member of SEB in Latvia

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• To share longer term experience of financing energy efficiency and related projects

• To outline the areas of development in order to increase energy efficiency financing

Main issues for today

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SEB:• a leading Nordic financial institution and one of largest banks in

Europe• serving 4 000 000 private, 400 000 small and medium size and

2500 corporate and institutional customers worldwide• in Latvia - a financial partner for more then 900 000 private and

corporate customers• 90% of all new funding in Latvia for 2010 was corporate related• TOP 3 industries in Latvia regarding new lending in 2010:

– Wood processing– Agriculture– Manufacturing

• SEB in Latvia is nominated as a reputation leader in banking sector for 2010

SEB – the trusted partner for financial solutions

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Achievements shape our future ambitions

• First apartment house renovation financed by SEB in 2004

• 2004-2007: 25 loans in amount less then 1 million lats

• 2008-2009: 21 loan in amount of 1.6 million lats

• 2009: ERAF program with 50% co finance

• 2010: 33 loans in amount of 2.2 million lats

More than 100 houses have agreement for EU funding and started renovation process,

~60% financed by SEB

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Success story – Ventspils, Brīvības Street 33/35

“House keeper” - municipality owned company

Nr. of apartments - 35

Loan - 50 000 LVL (50% by ERAF)

Duration - 12 years

Done - heat insulation of buildings, change of warm water regulation, heat insulation of drainpipes, maintenance of heating system

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Success story – Liepāja, Klaipēdas 84

“House keeper” - apartment union “Klaipēdas 84”

Nr. of apartments - 60

Loan - 196 350 EUR (50% by ERAF)

Duration - 15 years

Done - heat insulation of buildings, maintenance of staircase, change of windows and doors for common use areas, renovation of ventilation systems, maintenance of heating system

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Success story – Ropaži, Rīgas Street 14

“House keeper” -

apartment union “Pirmā māja”

Nr. of apartments - 12

Loan - 67 000 EUR (50% by ERAF)

Duration - 15 years

Done - heat insulation of buildings, change of windows, maintenance of heating system

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Even more – SEB stands for energy efficiency on a broader scale

• In 2010 SEB granted 5,25 million euro for “Kuldīgas siltumtīkli “

- SIA "Kuldīgas siltumtīkli" is a company owned by Kuldīga district municipality

- The loan goes for construction of biomass cogeneration electro station

- The aim: to increase the production of heating and increase the usage of energy

• In 2009 SEB granted more then 2 million euro for farm "Līgo“

- The loan goes for construction of biogas production unit

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More renovation projects, more questionsThe main challenge ahead:

• To agree on renovation (as at least 60% of inhabitants should agree on this activity) – I take care only about my apartment!

• To diminish potential issues/problems regarding:

- lack of renovation quality

- lack of energy audits quality

- lack of procurement quality

Suggestion:

Need for public discussions and competence sharing:

- awareness,

- access to financial tools,

- process and end quality,

- benefits for renovation and related initiatives.

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Thank you for your attention!