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28.02.2012 12:15EBRD to Finance Energy Efficiency in Bulgarian Small, Medium Business
The Project generates transition impact by scaling up sustainable energy investments in the SME sector in Bulgaria for improving SME competitiveness in the light of high energy costs
© EBRD
The EBRD is considering approval of an energy efficiency credit line (‘the Facility”) in Bulgaria to be provided to commercial banks in Bulgaria for on-lending to privately-owned SMEs registered and operating in Bulgaria.
Eligible sub-projects must improve rational energy utilisation and will include:
energy efficiency sub-projects undertaken by SMEs – investments in machinery, equipment, systems and processes that enable energy saving and/or reduction per unit of production/service versus the baseline situation;
small renewable energy sub-projects designed for SMEs’ own operational needs – projects involving purchase and installation of equipment, systems and processes utilizing renewable energy sources for generation of heat and/or cooling.
The Project generates transition impact by scaling up sustainable energy investments in the SME sector in Bulgaria for improving SME competitiveness in the light of high energy costs.
The proposed Facility is deepening the impact of the existing energy efficiency programmes in Bulgaria by explicitly targeting investments by SMEs. Crucially, in the crisis recovery environment, the Facility will provide medium-term funding to Bulgarian financial institutions for on-lending to SMEs to finance energy efficiency investments. By providing dedicated funding to SMEs to invest in energy efficient technologies, the Facility will enable the companies to remain or become more competitive in the enlarged EU market. The SMEs that will invest in energy efficiency will be better prepared for the impact of further rises in the energy prices which is especially difficult in the crisis environment.
The Facility will form part of the “Energy Efficiency and Green Economy Programme” (“the Programme”) to be launched by the Ministry of Economy, Energy and Tourism (“the Ministry”). The Programme is part of the Operational Programme “Development of the Competitiveness of the Bulgarian Economy” 2007-2013 under which approximately EUR 200 million from the European Regional Development Fund (“the Structural Funds”) and national co-financing have been earmarked for providing support to increase the efficiency and productivity of the SME sector through the promotion of energy efficiency and renewable energy investments by Bulgarian enterprises.
The clients will be Bulgarian commercial banks (“Participating Banks”) which will on-lend the funds to SMEs. Senior loans of up to an aggregate of EUR 150 million to be allocated to Participating Banks in Bulgaria. Framework amount is up to EUR 150,000,000.
Additional information on the parameters of the Facility.
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