Banca Comerciala Romana (BCR), BRD Groupe Société Générale, Banca Transilvania, CEC Bank, OTP Bank, Raiffeisen Bank and UniCredit Tiriac Bank have all been part of the European Bank for Reconstruction and Development (EBRD) and EU’s joint programmes financing sustainable energy in Romania. It’s about RoSEFF, a key instrument for promoting the efficient use of energy to cut bills and boost the competitiveness of SMEs.
So far, banks have on-lent EUR 112 million of EBRD finance to almost 300 companies for financing energy efficiency improvements with a combined value of EUR 156 million, according to a press release. The finance is supported by technical advice and financial incentives for SMEs funded with an EU grant.
These projects led to annual energy and CO2 savings of 1,786 GWh, the equivalent of the household electricity consumption of the city of Bucharest for an entire year, or 394 thousand tonnes of CO2, the equivalent of taking 123,690 passenger cars off the roads for a year.
In this context, 15 Romanian companies were awarded by EBRD for promoting sustainable energy during a special event held on Thursday in Bucharest.
“We are celebrating Romanian companies which have demonstrated time and again that investment in energy efficiency and renewable energy can bring economic, environmental, energy security and social benefits to Romania,” said James Hyslop, EBRD Director for Romania, adding: “Economic benefits arrive in the form of lower utility costs for investors; environmental benefits in the form of lower CO2 emissions; security of energy supply through lower energy demand, or by meeting demand with local renewable energy resources; and social benefits in the form of jobs in the growing sustainable energy sector”.