The European Bank for Reconstruction and Development (EBRD) is launching a €60 million facility for financing of energy efficiency improvements in Croatian homes and households.
A new financial mechanism to support Croatian residents
Loans under the new REENOVA+ credit line facility will be extended by participating financial institutions (PFIs). Erste&Steiermärkische Bank d.d. is the first financial institution that has already joined REENOVA+ and additional partners are expected to follow in the next few months.
“Working with Croatian financial institutions on energy efficiency projects is a priority for the EBRD. Through our partners we aim to reach many households who seek to increase the energy efficiency of their homes, reduce energy bills and improve their living comfort through targeted investments in energy efficient measures”, said Vedrana Jelušić Kašić, EBRD Director, Croatia.
The new facility will finance, among others, the installation of energy efficient windows, the insulation of walls, roofs and floors and the introduction of efficient boilers, solar water systems, heat pumps or home appliances.
Depending on the measures implemented, homes will typically maintain better thermal comfort, become warmer and households will be able to substantially reduce their energy bill. Modern energy efficient technologies extend the lifespan of buildings, provide comfort, and increase the property value.
Achieving these benefits will be easier with the new REENOVA+ Technology Selector. This online selection tool contains a wide range of pre-approved high performance technologies, which will save at least 20 per cent energy against the Croatian market average. Additionally, the tool allows interested households to compare and choose their preferred energy efficiency solution and provides ideas on possible combinations.
The Technology Selector also provides an opportunity for equipment vendors to promote their products. Additional vendors and manufacturers are invited to join. In support of expanding the supply base for energy efficient technologies in Croatia, manufacturers, retailers and installers of such technologies can take a REENOVA+ loan (via partner institutions) in order to expand their supply and service range and ultimately to enhance their service to Croatian households.
Funding to support the implementation of REENOVA+ has been provided by the EBRD Shareholders Special Fund.
Ian Smith, EBRD Head of Sustainable Energy Financing Facilities, added: “With REENOVA+ we are building on the European experience of high energy performance equipment to bring households together with vendors. Croatian citizens will benefit from more choice to make these vital investments.”
The EBRD has provided over €2.8 billion in sustainable energy financing to more than 100 local financial institutions in 24 countries.
Further information about REENOVA+ is available www.reenovaplus.org.
04 May 2016