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Key sectors for EBRD - municipal infrastructure
• Energy Efficiency
• Public Lighting
• Water and Wastewater
• Urban transport
• Solid waste
• District Heating
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EBRD – EE financing facilities in Romania (currently finalized)
EUR 80 mill.
Partner banks
BCR, BRD, BT, CEC, Raiffeisen, OTP
EUR 65 mill.
Partner banks
BCR, BRD, Banca Transilvania, UniCredit
www.eeff.ro www.seff.ro
EUR 10 mill.
Partner bank
BRD
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EBRD experience: credit line programmes for energy efficiency in the residential sector
Bulgaria Slovakia Georgia Kosovo EUR 90 mln EUR 150 mln EUR 20 mln EUR 12 mln www.reecl.org www.slovseff.eu www.energocredit.ge www.kosep.org
(residential and (residential and SME sector) SME sector)
Turkey Moldova Russia Kyrgyzstan USD 350 mln EUR 35 mln USD 100 mln EUR 15 mln
www.moreeff.info www.ruseff-r.ru www.kyrseff.kg (residential) (residential & SME sector)
Residential financing facilities under development in other countries: Croatia, Poland
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Structural design
EBRD
Partner Banks
Sub-borrowers
€ Loans
€ Loans
Support to residential beneficiaries
Technical assistance
Training Marketing Technical assistance
Consultant Verification Consultant
The extend of technical verification reflect specifics of the product and requirements of national authorities
A separate Verification Consultant might not be needed (depends on the scope of investment and on the scope of TA provided by the Consultant)
EBRD- RO Government Memorandum of Understanding
In the Context of the Memorandum of Understanding signed between the Romanian Government and EBRD in 2012, in order to improve the absorption capacity and prepare the strategic projects for EU 2014-2020 programmes, the EBRD support related to EE included 3 projects:
q National action plans for energy efficiency sector in Romania- SWOT analysis of
results q Preparation of a strategy regarding the co-financing from structural funds of energy
efficiency investments in public buildings and public lighting, including private sector investments, for the period 2014-2020
q Preparation of an energy efficiency financing strategy for the residential sector, for
the period 2014-2020.
The following slides summarize some of the proposed schemes for EE in buildings (public and residential)
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PA (adding
own contribution)
MA (national budget and ERDF)
ESCO (adding
own contribution)
Financial Institutions (Banks, IFIs)
Publicfinanceforcommerciallynon-feasibleshareofinvestment
Privatefinanceforcommerciallyfeasibleshareofinvestment&Bridgeloan(op<onal)
Grantapplica<on
Loanapplica<on&Yearlyreimbursementfromsavings
Implementandpre-financeworks,servicesbasedonEnPC
Paymentfrompublicfinanceatturnkey
PaymentfromsavingsyearlybasedonEnPC
1. Shortterminstitutionalsetup-Publicbuildings
RDAs as IBs
FNGCIMM Guaranteescheme
forESCOsfromstatebudget
Applyforg
uranteeon
beh
alf
ofESCO
Guarantee
Managing Authority EE Fund
FinancinginstrumentsforESCOs
Public authority ESCOs
EEworksandenergyservices,energyaudit
Paymentformgrantandsavings
ERDF+statebudget,grantandequity
IFI
Applica<on
forfi
nancinginstrument&
reimbu
rsem
ent
Cashflowensured
Financial intermediaries (optional)
Capitalorloan
FNGCIMM GuaranteeschemeforESCOs(op<onal)
Applyforg
uranteeon
beh
alf
ofESCO
Guarantee
2.DedicatedFundtakingonMAfunctions–PublicBuildings
Supporting instruments
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• In the short term, introduction of a Guarantee fund in the form of first loss reserve, up to 20% of the commercial funding of the scheme, to be made available from the EU grants, in order to address the perception risk of the financiers, aiming to open the private sector financing market;
• In the medium term, introduction of a Forfeiting Fund, to
be made available either by the commercial market or by the EU grants, depending on the needs, in order to address the need for increasing financing capacity of ESCOs in a growing market.
• ESCOs are private companies able to design, implement and operate energy efficiency projects for public clients, paid from their own resources and then recovered from future savings on energy bills. The ESCOs’ own funding can be combined with grant funds.
• The EBRD programme, financed by GEF, is aimed at supporting cities to prepare and tender EnPCs for ESCOs(target – public buildings)
• The programme is curently under review, given the many obstacles encountered.
EBRD’ pilot programme – EE public sector (ESCO market development)
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ESCO implements EE measures
End of EnPC contract
1 2 3 4 5 6 7 8 9 10 11 12
Ener
gy b
ill
Years
City energy bill
Energy savings revenue for City
Energy savings revenue for ESCo
Next steps – integrated approach
- A national facilitator has to streamline the process
- Tailor made financing schemes / instruments should reflect country and market
specifics
- The legal and regulatory framework should be developed/upgraded - EU (Eurostat
Note, Aug. 2015) and Romania, for EnPC/ESCO type of investments
- Awareness and capacity building/technical assistance: public authorities, local
banks, construction companies, technical consultants & engineers, ESCOs
- Policy dialogue
- “Start simple” / Pilot / Extend
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Contact Venera Vlad Associate Director Senior Banker, MEI Coordinator [email protected]
Dana Ionescu Principal Specialist [email protected] Tel: +40 21 202 7100 Fax: +40 21 202 7110 www.ebrd.com
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