Enigin Update - £58M EU-EBRD Energy Efficiency Funding for Romanian SMEs
THE European Bank for Reconstruction and Development (EBRD) is continuing to support Romania’s energy security strategy by boosting funding to the real economy to increase energy savings and reduce carbon emissions.
The Bank selected the 10 best projects financed under a joint EU-EBRD programme called the Energy Efficiency Finance Facility (EEFF). These energy efficiency investments in Romania’s private sector cover a wide range of industries from agriculture and food-processing to steel manufacturing and paper printing.
The EEFF, launched in January 2008 and designed to address Romania’s energy intensity, was actively supported by the EBRD partner banks BCR, BRD, Banca Transilvania, CEC Bank, OTP Bank and Raiffeisen Bank. So far, 80 investments totalling €58 million have been financed under the EEFF.
Collectively, EEFF funded investments which represent combined energy savings of 880 GWh per year, which is more than half of the annual household energy consumption of Bucharest – a city of 1.4 million households. Annual CO2 emission savings resulting from implementation of these investments stand at around 300,000 tons per year – the equivalent of the annual emissions from 200,000 passenger cars.
“We are delighted to recognise the commitment of Romanian companies to undertaking energy efficiency improvements. The EBRD has been supporting this drive among Romanian businesses, helping them to reduce their energy consumption and at the same time to cut costs,” said Claudia Pendred, EBRD Director for Romania.
Building on the successful implementation of the EEFF, the EBRD in cooperation with the European Commission have developed a new €60 million financing facility - the Romanian SME Sustainable Energy Financing Facility (RoSEFF). RoSeff is specifically targeted at small and medium-sized enterprises (SMEs) over the period 2012-2014.
Launched in September this year, RoSEFF will help local companies maximise energy savings and improve their overall competitiveness, while contributing to a reduction in the country’s high energy intensity.
The new facility will feature loans extended via participating financial institutions to invest in energy efficiency and small-scale renewable energy projects.
Enigin Distributors in Romania can direct their client towards this funding to help with their investments in energy efficiency systems and upgrades from Enigin.
Picture of Chamber of Commerce and Industry Bucharest reproduced under CCL.
