Short history

OCTOBER 8th, 2001

The legal framework for the establishment and organization of the Romanian Energy Efficiency Fund is approved by Government Emergency Ordinance. On May 15th, 2002, the emergency ordinance is approved by the Romanian Parliament, taking the form of a law.

JANUARY 29th, 2002

The first meeting of the Board of Directors takes place and proceeds the actions of establishing the organizational structure of the Fund, of the internal regulations, of selection and appointment of the executive management as well as of the members of the investment committee.

February 13th, 2003

The funding from the Global Environmental Fund is opened, after going through the international tender procedures, being signed, on April 1st, 2003, the contract with the Fund's Administrator.

MAY 1st, 2003

The activity of the Fund's Administrator starts, followed by the official launch of the Fund's operations on June 25th, 2003.

October 2001

The legal framework for the establishment and organization of the Romanian Energy Efficiency Fund is approved by Government Emergency Ordinance. On May 15th, 2002, the emergency ordinance is approved by the Romanian Parliament, taking the form of a law.

JANUARY 29th, 2002

The first meeting of the Board of Directors takes place and proceeds the actions of establishing the organizational structure of the Fund, of the internal regulations, of selection and appointment of the executive management as well as of the members of the investment committee.

February 13th, 2003

The funding from the Global Environmental Fund is opened, after going through the international tender procedures, being signed, on April 1st, 2003, the contract with the Fund’s Administrator.

May 1st, 2003

The activity of the Fund’s Administrator starts, followed by the official launch of the Fund’s operations on June 25th, 2003.

The first funding contract

primul-contract-de-finantare

September 28th, 2004

The signing ceremony of the first funding contract takes place

Beneficiary

SC UNIO SA Satu Mare

Credit granted

$ 130 000

The investment consists in the replacement of 3V45 Reșița compressor pumps with scroll compressors, mark Ingersoll – Rand.

The 2nd funding contract

November 3rd, 2004

The second funding contract is signed

Beneficiary

SC TRANSGEX SA Oradea

Credit granted

$ 425 000

The investment consists in connecting 5 thermal points to the geothermal water drilling no. 4767 Oradea.

al-doilea-contract-de-finantare

The 3rd funding contract

echipa-free-semnare-contracte

March 24th, 2005

Two more funding contracts are completed and signed.

Beneficiary

SC CET SA Iaşi

Credit granted

$ 980 000

The investment consists in the modernization of PT102 and 102A Tudor Vladimirescu, PT8 and PT10A Cantemir and the related thermal networks.

The 4th funding contract

April 28th, 2005

The fourth funding contract is signed.

Beneficiary

SC ULEROM SA Vaslui

Credit granted

$ 448 000

The investment consists in mounting a boiler on sunflower husks and some ancillary equipment.

The funding contracts that the Romanian Energy Efficiency Fund carried out at the end of the first semester of 2005 amounted to 1.983 million US dollars.

Legal status

The legal framework within which the Romanian Energy Efficiency Fund operates, consists of:

  • Government Emergency Ordinance no. 188/2002 on the ratification of the Grant Agreement between Romania and the International Bank for Reconstruction and Development, acting as implementing agency for the Global Environment Facility, to finance the Energy Efficiency Project, signed on Bucharest on October 18th, 2002
  • Government Emergency Ordinance no. 124/2001 regarding the establishment, organization and functioning of the Romanian Energy Efficiency Fund
  • Law no. 287/2002  approving the Government Emergency Ordinance no. 124/2001 on the establishment, organization and functioning of the Romanian Energy Efficiency Fund
The statute of the Romanian Energy Efficiency Fund is a body of public interest, with legal personality, independent and financially autonomous.

Scope of activity

FINANCING OF INVESTMENT PROJECTS
The main scope of activity of the Romanian Energy Efficiency Fund is the funding of investment projects to increase the efficiency of energy use in Romania, according to the priorities established by the annual energy efficiency programs, approved by the Government
FUND MANAGEMENT
The Romanian Energy Efficiency Fund manages, under the law, the financial resources received by Romania from the Global Environment Facility through the International Bank for Reconstruction and Development (IBRD), based on the Grant Agreement between IBRD and Romania, represented by the Ministry of Public Finance
The achievement of the scope of activity is carried out in direct correlation with the priorities of the national policy in the field of energy efficiency.

Competences and duties

Funding of investment projects that meet the requirements imposed by the assessment and selection criteria

Use of a set of assessment criteria and operating procedures in accordance with accepted international standards for the selection, identification, assessment, selection and funding of projects to increase energy efficiency

Providing technical assistance to companies and public authorities and institutions of national and local interest, which submit to the Fund for analysis and approval of funding, proposals for energy efficiency projects that meet the requirements of specific eligibility criteria

Promoting and disseminating to potential beneficiaries information on its own activity as well as those related to projects considered eligible by the Romanian Energy Efficiency Fund and which it can finance

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