The Romanian Energy Efficiency Fund is a pole of national interest in promoting commercial financing dedicated to investments aimed at saving energy and capitalizing on renewable energy sources in order to cover its own consumption. The fundamental mission carried out by the Romanian Energy Efficiency Fund follows three major axes:
Being complementary to some traditional actors in the Romanian banking sector, interested in supporting investment programs in different economic sectors, the Fund is strongly motivated to create its own funding niche by attracting potential beneficiaries and helping them to eliminate obstacles encountered in funding the energy efficiency projects through professional customer-oriented services.
The analysis of the portfolio of loan agreements concluded by the Romanian Energy Efficiency Fund in order to make investments worth over 100 million US dollars, highlights the following matters:
- there is an energy efficiency market with a growing potential; the market is constantly developing; for sustainable development it takes time and success stories;
- 91% of the funded investments were made in the private sector;
- 81% of the funded investments were made in industry;
- at 1 US dollar invested there are, according to their own estimates, financial benefits of 0.28 US dollars and a possible gain of 0.01 US dollars from the sale of CO2 emission reductions (at minimum quotations of 133 € for 1 TEP and 4 € for 1 tonne of CO2);
- the private sector invests in energy efficiency, with the US $ 1 credit being granted by the Fund attracting another US $ 1.99 (coming from banks, from financial resources from structural instruments, from own revenues and emissions trading);
- the diversification of the project portfolio and the increase in the volume of loans granted for co-funding generated the interest of the banking sector to collaborate with the Fund for joint co-funding of energy efficiency projects (preliminary discussions with representatives of BCR, BRD, CEC, Piraeus Bank and ProCredit Bank).
Priorities
The priorities in funding of the energy saving projects and capitalizing on renewable energy sources to cover their own energy consumption are in line with the annual programs in the field of energy efficiency and promoting the production of energy from renewable energy sources approved by the Government. In principle, they are different for companies with private and public capital – private and administrative and territorial units.
Private and public-private companies
For companies with private and public – private capital, the priorities are mainly the following:
- the transition from the status of consumer to that of prosumer;
- ” greening” the transport fleets and equipping them with charging stations with electricity;
- ” greening” of privately owned buildings;
- ” smart” grid and” smart” metering; energy storage;
- modernization of technological processes (from installations and equipment with a high degree of energy efficiency), extension of recovery and use of secondary energy resources;
- integration of renewable energy sources in technological processes;
- promoting low and medium power co-generation and tri-generation;
- use of renewable energy sources for industrial purposes;
- high value-added investments and low energy consumption;
Administrative and territorial units
For the administrative-territorial units, the priorities are mainly the following:
- thermal rehabilitation of public buildings;
- ” greening” the public transport fleets and equipping with charging stations with electricity;
- ” greening” of publicly owned buildings;
- rehabilitation of local and central heating systems, use of renewable energy sources for thermal energy production;
- promotion of heat pumps;
- metering (thermal meters, flow meters, thermostatic valves, hydraulic balancing valves, cost allocators);
- indoor and outdoor street lighting;
- promoting low and medium power co-generation;
- management of energy consumption in public buildings;
- modernization of drinking water supply systems;
- local capitalization of renewable energy sources to cover own consumption.
