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FAQ about the EU EBRD Energy Efficiency Finance Facility
FAQ about application procedures
- How do I apply for an EEFF loan/grant?
- Who are the participating banks?
- Which of the participating banks should I use?
- What are the step-by-step application procedures?
FAQ about the loans
- May I borrow more than 2.5 million EUR?
- What is the interest rate?
- What proportion of an investment is eligible for the EEFF?
- What currency is used - RON or EUR?
FAQ about the 15% grants
- How much is the grant?
- Is the grant payable on the VAT component of the investment?
- When is the grant paid?
- How is the grant paid?
FAQ about eligibility to receive a loan/grant
- Who is eligible to benefit from the EEFF?
- Who is not eligible?
- What kinds of investments are eligible?
- What is the formal definition of an eligible investment?
- Are renewable energy investments eligible?
- Are greenfield investments eligible?
- May the same company benefit from two or more EEFF grants?
- May a single investment benefit from two grants (EEFF and another EU grant)?
- May the EEFF be used to finance Combined Heat and Power (CHP)?
- May an Energy Service Company (ESCO) use the EEFF?
- How can I know for certain if my energy efficiency investment proposal is eligible?
FAQ about organisations and companies involved in the EEFF
- What is the role of the EU?
- What is the role of EBRD?
- Who are the participating banks, and what is their role?
- What is the role of Tractebel Engineering?
- What is the role of MWH?
FAQ about free technical consultancy
- What service does Tractebel Engineering provide for borrowers?
- More specifically, what kind of documentation will Tractebel Engineering prepare?
- What service will MWH provide for borrowers?
- Are the services of Tractebel Engineering and MWH free?
- If my investment proposal is rejected by the EEFF, may I appeal?
Miscellanous FAQs
- What is the EEFF - in a nutshell?
- Where does the money come from?
- Is applying for an EEFF loan/grant difficult and bureaucratic?
- How long will the EEFF be available?
- Where are the EEFF Project Offices?
About these FAQs
- Does this FAQ page provide definitive answers?
FAQ about application procedures
How do I apply for an EEFF loan/grant?
May I borrow more than 2.5 million EUR?
Please discuss loan conditions with one or more of the participating banks, each of which has their own commercial terms and conditions. The interest rate is not subsidised. The EU subsidy pays for:
How much is the grant?
Upon successful implementation and verification of completion of your energy efficiency investment, the EBRD will pay a grant of up to 375,000 EUR, calculated as 15%, of the lower of:
Who is eligible to benefit from the EEFF?
Most romanian private sector companies
Three kinds of investments are eligible
Eligible investments are defined as 'investments carried out by private entities on the energy demand side contributing to the improvement of the energy performance of the industry sector which comply with the minimum energy savings and internal rate of return requirements as follows:
No. Wind power and small hydro may not be financed using the EEFF. It is possible that solar hot water, biomass and biogas investments could be incorporated into an industrial energy efficiency investment, but the overall theme of the EEFF is energy efficiency rather than renewable energy.
Are greenfield investments eligible?
The EEFF is designed to improve the energy efficiency of existing industrial facilities - it is not for greenfield investments.
May the same company benefit from two or more EEFF grants?
Yes - but the sum of grants to a single company may not exceed 375,000 EUR
May a single investment benefit from two grants (EEFF and another EU grant)
No. Two grants may not be used for the same energy efficiency investment.
May the EEFF be used to finance Combined Heat and Power (CHP)?
The EEFF may be used to finance CHP in the following circumstances - subject to case-by-case approval by the EU.
Yes. An ESCO - or Energy Service Company - uses a financing model whereby the ESCO invests in equipment - typically, but not always, a combined heat and power system - which is installed at the site of an industrial client. The ESCO then provides heat and power services to meet the industrial client's needs, at an agreed fee. After a period of several years - the equipment is normally transferred to the ownership of their client. There are several variations on this basic model.
This is a 'win win' for the industrial client and the ESCO as:
Please contact EEFF Help Line on 031 224 8104, eeff@eeff.ro.
FAQ organisations and companies involved in the EEFF
What is the role of the EU?
The European Union has provided a grant to pay for:
The European Bank for Reconstruction and Developments has four main roles:
There are six participating banks, of which five still have EEFF funds available to lend.
What is the role of Tractebel Engineering?
Tractebel Engineering supports the preparation, successful operation, administration and monitoring of the EEFF by providing technical, marketing and administration services. Tasks include:
When you have completed your energy efficiency investment, MWH will visit your site, verify that the investment has been made as planned, and report back to EBRD. The resulting Verification Report by MWH is the basis upon which EBRD pays the 15% grant.
FAQ ABOUT FREE TECHNICAL ASSISTANCE
What service does Tractebel Engineering provide for borrowers?
Tractebel Engineering will prepare a package of technical and economic documentation to support your loan/grant application. (We also have a wider role to market, administrate and monitor the EEFF).
More specifically, what kind of documentation will Tractebel Engineering prepare
Tractebel Engineering will prepare an Energy Plan supported, if necessary, by an Energy Audit - depending on the complexity of the investment and whether there is already some technical documentation in place.
The Energy Audit, if required, it may contain: energy balance of the industrial operations (if applicable); analysis of production costs associated to energy use (if applicable); technical feasibility analysis of the proposed sub-projects; identification of additional feasible sustainable energy opportunities; financial plan (capital investment appraisal): cash flow analysis of a proposed investment(s) and profitability analysis; assessment of anticipated energy saved and/or generated through the investment; assessment of compliance with applicable environmental, health and safety laws, regulations and standards; implementation plan of the investment including assessment of the permits required for the construction and operation of the investments included; analysis of greenhouse gases emissions reduction resulting from the implementation of the investment and assessment of the scope for a carbon credit transaction under an applicable emissions trading regime.
The Energy Plan will incorporate the results of the Energy Audit, further describe the financing plan and implementation schedule, and summary recommendation regarding the proposed investment. A typical Energy Plan will show a description of the investment and how it meets the EEFF eligibility criteria; a cost-benefit analysis with estimates of energy, financial and CO2 savings; the IRR, NPV and other ratios and indicators of the investment's economic and environmental performance; a schedule of key tasks from design through to commissioning; a check list for MWH to use when validating completion; recommendations for further energy efficiency improvements; an environment, health and safety assessment with associated recommendations; and a summary of the client, its business and financial statements to support the bank's credit evaluation process. An indicitave Table of Contents for an Energy Plan is provided.
What service will MWH provide for borrowers
MWH will prepare a Verification Report when your energy efficiency investment is complete. The report, which will confirm that the loan was used for an energy efficiency investment, as described in the Energy Plan, and is the documentary basis upon which EBRD will transfer the EU Grant to your bank account.
Are the services of Tractebel Engineering and MWH free?
Yes. Both consulting companies are financed by the EU through EBRD, having won international tenders to manage aspects of the EEFF.
If my investment proposal is rejected by the EEFF, may I appeal?
Yes.
The role of the Project Consultant is to work in partnership with the prospective sub-borrower to identify and develop eligible and cost effective energy efficiency projects. This normally will lead to a good communication and mutual understanding of any problems that may exist and minimise disagreements and disputes.
Should however the prospective sub-borrower disagree with the evaluation of the Project Consultant and with his recommendations, he has the right to appeal the negative decision in two levels.
1st level: within 30 working days after the written announcement of the negative decision, the prospective sub-borrower submits to the Project Consultant in writing a justified request to reconsider his decision with any additional documentation that would support his request. The request may be in English or Romanian language
Within 5 working days from the receipt of the request, the Project Consultant evaluates any new data and arguments and submits its justified answer to the prospective sub-borrower.
2nd level: The prospective sub-borrower may appeal the negative decision of the 1st level by submitting a letter to the EBRD within 20 working days after the written announcement of the negative decision of the 1st level.
The request should be in English language stating the case for reconsideration, along with an English translation of the Application, the original negative announcement and the correspondence of the 1st level above. Any supporting documentation must be also submitted in English.
A written response to the appeal will be sent by EBRD to the prospective sub-borrower within 30 working days from receiving the appeal request. The decision of EBRD is final.
All written correspondence during the appeal procedure may be by mail, electronic mail or fax. Miscellanous FAQs
What is the EEFF - in a nutshell
Does this FAQ page provide definitive answers?
FAQ about application procedures
- How do I apply for an EEFF loan/grant?
- Who are the participating banks?
- Which of the participating banks should I use?
- What are the step-by-step application procedures?
FAQ about the loans
- May I borrow more than 2.5 million EUR?
- What is the interest rate?
- What proportion of an investment is eligible for the EEFF?
- What currency is used - RON or EUR?
FAQ about the 15% grants
- How much is the grant?
- Is the grant payable on the VAT component of the investment?
- When is the grant paid?
- How is the grant paid?
FAQ about eligibility to receive a loan/grant
- Who is eligible to benefit from the EEFF?
- Who is not eligible?
- What kinds of investments are eligible?
- What is the formal definition of an eligible investment?
- Are renewable energy investments eligible?
- Are greenfield investments eligible?
- May the same company benefit from two or more EEFF grants?
- May a single investment benefit from two grants (EEFF and another EU grant)?
- May the EEFF be used to finance Combined Heat and Power (CHP)?
- May an Energy Service Company (ESCO) use the EEFF?
- How can I know for certain if my energy efficiency investment proposal is eligible?
FAQ about organisations and companies involved in the EEFF
- What is the role of the EU?
- What is the role of EBRD?
- Who are the participating banks, and what is their role?
- What is the role of Tractebel Engineering?
- What is the role of MWH?
FAQ about free technical consultancy
- What service does Tractebel Engineering provide for borrowers?
- More specifically, what kind of documentation will Tractebel Engineering prepare?
- What service will MWH provide for borrowers?
- Are the services of Tractebel Engineering and MWH free?
- If my investment proposal is rejected by the EEFF, may I appeal?
Miscellanous FAQs
- What is the EEFF - in a nutshell?
- Where does the money come from?
- Is applying for an EEFF loan/grant difficult and bureaucratic?
- How long will the EEFF be available?
- Where are the EEFF Project Offices?
About these FAQs
- Does this FAQ page provide definitive answers?
FAQ about application procedures
How do I apply for an EEFF loan/grant?
- Either - contact the EEFF Help Line - 031 224 8104, eeff@eeff.ro
- Or - contact one of the participating banks.
- BCR, BRD Groupe Societe Generale, Banca TransilvaniaT, CEC Bank, OTP Bank and Raiffeisen Bank. Banca Transilvania has already signed EEFF-sub-loans representing its entire EEFF fund, so there are now only five active participating banks (with EEFF funds available).
- This is entirely up to you. The Tractebel Engineering EEFF team will not advise you about which bank to select, nor about their interest rates, grace periods or other conditions. You should discuss this kind of issue directly with the bank.
- Discuss technical eligibility with Tractebel Engineering and financial eligibility with BCR, BRD, CEC Bank, OTP or Raiffeisen. .
- Sign a (one page) standard Letter of Engagement, copied to one of the banks.
- The participating bank that you selected gives a 'green light', indicating its willingness-in-principle to lend to your company.
- Tractebel Engineering prepares a Rational Energy Utilization Plan + Energy Audit if needed.
- Sign a loan agreement with the selected Participating Bank.
- Use the loan to make the energy efficiency investment.
- Independent consultants (MWH) prepare a Verification Report.
- EBRD pays the 15% grant into the client’s bank account, in Euros.
May I borrow more than 2.5 million EUR?
- The EEFF is designed for energy efficiency investments costing up to 2.5 million EUR. If a suite of proposed investments cost more than 2.5 million EUR, Tractebel Engineering will package up 2.5 million EUR of investments to be designated as the EEFF investment. If a single investment costs more than this, it may be possible to use the EEFF - subject to separate agreement by the EU, which is provided on a case-by-case basis following an analysis of the energy savings potential of the investment. If the energy savings are likely to be very substantial - such as in the case of a combined heat and power system replacing conventional boilers and grid-based power - the investment may be allowed to take place using the EEFF. In this case, the participating bank will finance only the first 2.5 million EUR from the EEFF credit line, and the resulting grant will be 375,000 EUR (i.e. 15% of the first 2.5 million EUR only). The rest of the loan may come from other credit lines operated by the same participating bank, or from another financing source.
Please discuss loan conditions with one or more of the participating banks, each of which has their own commercial terms and conditions. The interest rate is not subsidised. The EU subsidy pays for:
- Project management and technical consultancy from consultants Tractebel Engineering
- Verification that the investment is complete by consultants MWH
- The 15% grants - which are paid directly by EBRD, in EUR, to the final clients.
- Up to 100% of the total investment cost. In the case of complex investments that are not only energy efficiency-related, Tractebel Engineering will calculate the eligible (energy-saving) share of the investment for you.
- The currency of the loan depends on the agreement between the participating bank and the final borrower - EBRD has no requirements in this respect.
- The grants will be paid in EUR directly to the final borrower by EBRD
How much is the grant?
Upon successful implementation and verification of completion of your energy efficiency investment, the EBRD will pay a grant of up to 375,000 EUR, calculated as 15%, of the lower of:
- The total principal amount of loan that you draw down from the participating bank; or
- The total investment cost, exclusive of VAT;
- No. For example, if an energy-saving investment costs 1 million EUR + VAT, the grant payable is 15% of 1 MEUR - meaning 150,000 EUR.
- Within 30 working days of receipt, by EBRD, of the Verification Report
- The grant (completion fee) is payable directly by EBRD to the bank account of the client, in EUR.
Who is eligible to benefit from the EEFF?
Most romanian private sector companies
- If more than 50% of the shares are private, the company is considered private.
- From the industrial sectror - including manufacturing, agriculture agro-industry, mining and more.
- From the commercial sector if the investments is in thermal rehabilitation of the company's building of operation.
- From any sector if the company would like to install a combined heat and power (CHP) system to meet its own energy needs.
- Public sector companies are not eligible
- Some sectors - such as gambling, real estate and armaments - are not eligible
- Investment in new buildings that are already subject to minimum efficiency standards are not eligible
Three kinds of investments are eligible
- Industrial and agricultural sectors - any energy-saving investment that yields at least 20% specific energy savings.
- Buildings - investments by private sector companies from almost any sector that will lower energy use in the building that it occupies by at least 30%.
- Combined heat and power investments to meet a company's own energy needs (subject to case-by-case approval by the EU).
- On site co-generation of heat and electricity
- Rehabilitation of boilers (enhanced controls, economizers, improved insulation, regenerative burners, automatic blow-down, etc.)
- Replacement of old gas boilers with condensing boilers
- Switch from electric heating to fuel based direct heating
- Process improvements including enhanced controls
- Rehabilitation of steam distribution systems: installation of steam traps, increased condensate recovery, etc.
- Installation of heat recovery from processes (e.g., installation of economizers for pre-heating purposes, heat recovery for space heating, heat recovery for drying, etc.)
- Installation of absorption chillers
- Installation of new chillers
- Installation of Variable Speed Drives on selected electric motors
- Rehabilitation of compressed air systems (e.g., decentralisation and/or resizing of air compressors, replacing of old air compressors with new efficient ones)
- Rehabilitation of power distribution systems (e.g., replacement of old or oversized transformers, installation of capacitors to reduce reactive power consumption, etc.)
- Implementation of Energy Management Systems or Building Management Systems
- Replacement of old and low efficient boilers by new efficient ones with or without fuel switching;
- Implementation of on-site micro-cogeneration/tri-generation;
- Rehabilitation of heat substations and implementation of heat meters;
- Balancing of heating systems, implementation of individual heat control devices;
- Implementation of Building Management Systems;
- Replacement of existing windows with new, double-glazed windows, low-emission glazing;
- Thermal insulation of the building envelope (external walls, roofs, basements)
- Replacement of existing heating system with a new one (thermal insulation of pipes, tanks and machinery equipment);
- Installation of heat recovery from air ventilation system and/or processes (e.g. installation of economizers for pre-heating purposes);
- Replacement of existing low-efficient energy using processes (e.g.. cooling, washing, drying) with new, high efficient ones.
- Replacement of existing lighting with highly efficient lighting, dimming, daylight sensors, presence sensors, algorithmic lighting, grouping of luminaires;
- Free cooling;
- Compressor replacement/rehabilitation;
- Additional shading (jalousies, structural elements etc);
- Frequency modulation of pumps, fans, drives and motors;
- Variable air-volume air-conditioning systems;
- Installation of rolling doors;
- Implementation of renewable energy systems in buildings (e.g. solar thermal collectors, biomass boilers, geothermal energy utilisation for heating and/or cooling with or without heat pump, surface water energy utilisation for heating and/or cooling with heat pump, solar heating and/or cooling).
Eligible investments are defined as 'investments carried out by private entities on the energy demand side contributing to the improvement of the energy performance of the industry sector which comply with the minimum energy savings and internal rate of return requirements as follows:
- The energy savings of a Sub-project, expressed as an Industry Sector Indicator (ISI) (see Definitions above) which is calculated by the Project Consultant, shall be greater than or equal to the national requirements of Romania for this type of project. In the absence of a national requirement, the ISI shall be no less than 0.20.
- Buildings Sector Sub-projects must achieve an Energy Savings Ration (ESR) equal or greater than 30% as measured on an annual basis. Should the existing national minimum requirement be beyond the minimum levels set above, the national minimum requirements will apply.
- The minimum Internal Rate of Return (IRR) for the Sub-project, as calculated by the Consultant, will be 10% unless otherwise agreed by EBRD and the PB.'
No. Wind power and small hydro may not be financed using the EEFF. It is possible that solar hot water, biomass and biogas investments could be incorporated into an industrial energy efficiency investment, but the overall theme of the EEFF is energy efficiency rather than renewable energy.
Are greenfield investments eligible?
The EEFF is designed to improve the energy efficiency of existing industrial facilities - it is not for greenfield investments.
May the same company benefit from two or more EEFF grants?
Yes - but the sum of grants to a single company may not exceed 375,000 EUR
May a single investment benefit from two grants (EEFF and another EU grant)
No. Two grants may not be used for the same energy efficiency investment.
May the EEFF be used to finance Combined Heat and Power (CHP)?
The EEFF may be used to finance CHP in the following circumstances - subject to case-by-case approval by the EU.
- CHP - cogeneration of heat and power, or trigeneration of heat, cold and power - in cases where the energy is mainly or wholly for use by the company. Investments that are designed primarily to supply power into the national grid or heat into a municipal heating network are not eligible to be financed using the EEFF.
- Services sector CHP - such as existing hotels, existing shopping centres, existing office buildings - where the heat and power are for mainly or wholly for use by the same company.
- CHP provided by an ESCO using Build-Own-Operate-Transfer or similar financing model - where the energy user is as described above.
Yes. An ESCO - or Energy Service Company - uses a financing model whereby the ESCO invests in equipment - typically, but not always, a combined heat and power system - which is installed at the site of an industrial client. The ESCO then provides heat and power services to meet the industrial client's needs, at an agreed fee. After a period of several years - the equipment is normally transferred to the ownership of their client. There are several variations on this basic model.
This is a 'win win' for the industrial client and the ESCO as:
- The industrial client lowers its power and heat expenditure with no investment; and
- The ESCO covers the cost of the capital, operations and financing, and makes a profit, by producing lower-cost heat and power and by reducing the overall energy consumption of its client through energy efficiency.
- The incentive payment is made directly to the industrial company generating the energy saving (the ESCO cannot be the direct recipient of the subsidy);
- EC requires that the 'shared savings agreement' between ESCO and industrial company reflects that the incentive is payable to the industrial company; and
- the agreement between the ESCO and the industrial company would need to preserve the visibility of EC contribution and also preserve the audit rights of the EC, and Court of Auditors, both during the term of the service agreement and also after the end of the service agreement, when the assets would pass to the industrial company
- The EEFF limits of 2.5 million Euros in sub-loans and 375,000 EUR in EU grants are considered per industrial company, not per ESCO - so there is no fixed limit to the number or value of investments that an ESCO may finance, providing that the limits per industrial company are respected; and
- In the case of installation of combined heat and power for industrial companies financed by an ESCO on a build-own-operate-transfer (BOOT) basis, it may be possible to use the EEFF to finance the first 2.5 MEUR of a larger investment, which is not otherwise normally possible using the EEFF. If an investment with this profile is proposed, Tractebel Engineering, who manage the EEFF in Romania under contract to EBRD, will normally ask EBRD to apply for a 'waiver' from the EU to allow the investment to be financed. Note that normally all of the heat and all or most of the power should be for own use by the industrial company - not for sale to the grid.
Please contact EEFF Help Line on 031 224 8104, eeff@eeff.ro.
FAQ organisations and companies involved in the EEFF
What is the role of the EU?
The European Union has provided a grant to pay for:
- Grants for companies who borrow from the EEFF (12 million EUR)
- Financing the work of Tractebel Engineering
- Financing the work of MWH
- Incentives for participating banks to offer the EEFF to its clients
The European Bank for Reconstruction and Developments has four main roles:
- Overall management of the EEFF;
- Lending 80 million EUR to the participating banks;
- Contracting technical consultancy from consultants Tractebel Engineering and MWH; and
- Paying the EU grants to the final borrowers.
There are six participating banks, of which five still have EEFF funds available to lend.
- Banca Comerciala Romana (BCR) - who has borrowed 30 million EUR from EBRD to on-lend to its customers under the EEFF
- BRD - Groupe Societe Generale - who has borrowed 20 million EUR from EBRD to on-lend to its customers under the EEFF
- Banca Transilvania (BT) - who borrowed 5 million EUR from EBRD. BT has already signed up clients for its entire 5 million Euro, so it is no longer an 'active' participating bank in this respect.
- CEC Bank - who has borrowed 5 million EUR from EBRD - and has now loaned the entire 5 million Euro to its customers.
- OTP Bank - who has borrowed 10 million EUR from EBRD to on-lend to its customers under the EEFF
- Raiffeisen Bank - who has borrowed 10 million EUR from EBRD to on-lend to its customers under the EEFF
What is the role of Tractebel Engineering?
Tractebel Engineering supports the preparation, successful operation, administration and monitoring of the EEFF by providing technical, marketing and administration services. Tasks include:
- Marketing the facility in Romania;
- Developing a pipeline of eligible energy efficiency investment projects;
- Supporting industrial customers through informal consultations, technical consultancy (energy plans) and assisting with the formulation of loan applications;
- Facilitating communication between stakeholders;
- Ensure that the technical criteria of the Facility are clearly defined, consistently applied and updated;
- Tracking, monitoring and reporting the use of the EEFF;
- Ensuring that Grants funds are applied consistently in line with the eligibility criteria.
- Informing industrial borrowers of greenhouse gas emission reductions that accrue from their investments, and indicate whether such emission reductions can be monetised through an applicable emissions trading regime.
When you have completed your energy efficiency investment, MWH will visit your site, verify that the investment has been made as planned, and report back to EBRD. The resulting Verification Report by MWH is the basis upon which EBRD pays the 15% grant.
FAQ ABOUT FREE TECHNICAL ASSISTANCE
What service does Tractebel Engineering provide for borrowers?
Tractebel Engineering will prepare a package of technical and economic documentation to support your loan/grant application. (We also have a wider role to market, administrate and monitor the EEFF).
More specifically, what kind of documentation will Tractebel Engineering prepare
Tractebel Engineering will prepare an Energy Plan supported, if necessary, by an Energy Audit - depending on the complexity of the investment and whether there is already some technical documentation in place.
The Energy Audit, if required, it may contain: energy balance of the industrial operations (if applicable); analysis of production costs associated to energy use (if applicable); technical feasibility analysis of the proposed sub-projects; identification of additional feasible sustainable energy opportunities; financial plan (capital investment appraisal): cash flow analysis of a proposed investment(s) and profitability analysis; assessment of anticipated energy saved and/or generated through the investment; assessment of compliance with applicable environmental, health and safety laws, regulations and standards; implementation plan of the investment including assessment of the permits required for the construction and operation of the investments included; analysis of greenhouse gases emissions reduction resulting from the implementation of the investment and assessment of the scope for a carbon credit transaction under an applicable emissions trading regime.
The Energy Plan will incorporate the results of the Energy Audit, further describe the financing plan and implementation schedule, and summary recommendation regarding the proposed investment. A typical Energy Plan will show a description of the investment and how it meets the EEFF eligibility criteria; a cost-benefit analysis with estimates of energy, financial and CO2 savings; the IRR, NPV and other ratios and indicators of the investment's economic and environmental performance; a schedule of key tasks from design through to commissioning; a check list for MWH to use when validating completion; recommendations for further energy efficiency improvements; an environment, health and safety assessment with associated recommendations; and a summary of the client, its business and financial statements to support the bank's credit evaluation process. An indicitave Table of Contents for an Energy Plan is provided.
What service will MWH provide for borrowers
MWH will prepare a Verification Report when your energy efficiency investment is complete. The report, which will confirm that the loan was used for an energy efficiency investment, as described in the Energy Plan, and is the documentary basis upon which EBRD will transfer the EU Grant to your bank account.
Are the services of Tractebel Engineering and MWH free?
Yes. Both consulting companies are financed by the EU through EBRD, having won international tenders to manage aspects of the EEFF.
If my investment proposal is rejected by the EEFF, may I appeal?
Yes.
The role of the Project Consultant is to work in partnership with the prospective sub-borrower to identify and develop eligible and cost effective energy efficiency projects. This normally will lead to a good communication and mutual understanding of any problems that may exist and minimise disagreements and disputes.
Should however the prospective sub-borrower disagree with the evaluation of the Project Consultant and with his recommendations, he has the right to appeal the negative decision in two levels.
1st level: within 30 working days after the written announcement of the negative decision, the prospective sub-borrower submits to the Project Consultant in writing a justified request to reconsider his decision with any additional documentation that would support his request. The request may be in English or Romanian language
Within 5 working days from the receipt of the request, the Project Consultant evaluates any new data and arguments and submits its justified answer to the prospective sub-borrower.
2nd level: The prospective sub-borrower may appeal the negative decision of the 1st level by submitting a letter to the EBRD
The request should be in English language stating the case for reconsideration, along with an English translation of the Application, the original negative announcement and the correspondence of the 1st level above. Any supporting documentation must be also submitted in English.
A written response to the appeal will be sent by EBRD to the prospective sub-borrower within 30 working days from receiving the appeal request. The decision of EBRD is final.
All written correspondence during the appeal procedure may be by mail, electronic mail or fax. Miscellanous FAQs
What is the EEFF - in a nutshell
- EEFF is a grant-supported credit line that has been established by the European Commission and the European Bank for Reconstruction and Development. Romanian private sector companies may borrow up to 2.5 million EUR from a participating bank (BCR, BRD Groupe Societe Generale, Banca Transilvania, CEC Bank, OTP Bank or Raiffeisen Bank), and use the money to invest in energy efficiency - with free technical consultancy from consultants Tractebel Engineering. When the investment is complete, consultants MWH will verify that the money was used for the planned energy efficiency investment, and the EBRD will then pay a 15% grant - up to 375,000 EUR - to the borrower.
- Loan financing comes from an 80 million Euro EBRD loan fund for Romanian participating banks to on-lend to their customers. Grant financing comes for the EU, who are funding the 15% grants to final borrowers, the work of consultants Tractebel Engineering and MWH and a subsidy for the participating banks.
- No - it's easy and straightforward to use! Although EEFF loans and grants do involve large amounts of technical and economic documentation, most of this work is carried out by consultants Tractebel Engineering and MWH, who are financed by the EU through EBRD.
- The EEFF will be available until 80 million EUR of loans (+12 million EUR of associated grants) have been disbursed.
- At Tractebel Engineering - Str. Alexandru Constantinescu 6 - Bucharest.
Does this FAQ page provide definitive answers?
- No - these are short answers to typical questions. Full eligibility criteria are, available, but quite long and involved.
If you have a question that is not answered clearly on this site, please contact the EEFF Help Line on 031 224 8104, or send a message to eeff@eeff.ro.
