EBRD to fund energy efficiency projects of Romanian factories

The officials of the Chamber of Commerce and Industry of Braşov yesterday announced that the European Bank for Reconstruction and Development, together with the European Commission, has launched a funding facility to help improve the high levels of energy consumption and greenhouse gas emissions of certain industrial companies in the private sector. Nineteen Romanian companies have already submitted applications for this program, but submissions are still accepted.

The EBRD provides up to 2.5 million Euros in funding for the energy efficiency programs which will be released through the banks participating in the program, - BCR, BRD, Banca Transilvania, CEC Bank. A 15% grant will be awarded as part of the program, but only after the review and the implementation of the investments planned by the company.

This program is available to all industrial companies in Romania, as long as they meet the eligibility criteria of the participating banks, and as long as they are not operating in certain sectors which do not qualify (real estate, arms production, etc)

Projects eligible to receive funding/grants under this program need to generate energy savings of at least 20%. These include cogeneration systems, rehabilitation, boiler replacement (automation installations, economizers, burners, insulation), improvement of flow processes (which would generate energy savings), improvement of steam distribution (recovery of condensate), heat recovery through flow processes, automation and control systems, new or more efficient cooling systems, wall, roof and floor insulation, the installation of new, more energy-efficient doors, windows and lighting systems.