EU Programme: Intelligent Energy for Europe (IEE)

Project EIE/05/205/SI2.419687

Commercial Finance for Sustainable Energy Projects (CF-SEP)

About Project

On 1st of January 2006 EKSERGIJA started to implement the long-term (18 months) EU programme “Intelligent Energy – Europe” international project “Commercial Finance for Sustainable Energy projects” in Lithuania.

The main action aims to overcome the disconnection between project developers with plausible energy efficiency (EE) and renewable energy sources (RES) projects and financial institutions (FIs) resulting in substantial expansion of availability of commercial lending and number of concrete implemented EE and RES projects. Banks need to learn more about the assessment of the risk associated with EE and RES projects and ways to its mitigation. Developers on the other hand need assistance as far as orientation in the financial market and project preparation to the bankable stage is concerned.

Project goals:

• the project preparation to the bankable stage;
• the development of information tools mapping financial resources available for investment into EE and RES projects and its dissemination;
• identify and select promising projects and assist its sponsors.

There were five participating countries: The Czech Republic, Slovakia, Lithuania, Latvia and Estonia. The project was partially financed by the European Commission, co-financing also provided the International Finance Corporation (IFC).

List of Participants

Participant name	Project web site	Country
SEVEn*, Stredisko pro efektivni vyuzivani energie, o.p.s.	http://www.svn.cz/CF-SEP http://www.biom.cz/cf-sep	Czech Republic
Joint Stock Company Eksergija	http://www.eksergija.lt/energ_europ_en.html	Lithuania
Energy Center Bratislava	http://podnikanie.etrend.sk/financovanie-v-energetike	Slovakia
Ekodoma	http://cf-sep.ekodoma.lv/CF-SEP	Latvia
OÜ Energiasäästubüroo	http://www.energiaaudit.ee/new2/sisu.php?artID=79&lang=eng	Estonia
* Co-ordinator

Achieved Project Results

Market Analysis (WP 2):

• Preparation of Financial Resources Manual:
  • The English version of the manual summarizing the information for all 5 countries is available here.( ~428kb);
  • The complete CD including the manuals in 5 national languages is available here.( ~3.2mb);
• The main objective of this financial resources manual is to facilitate implementation of energy efficiency (EE) and renewable energy source (RES) projects. The manual is meant to be a link between project developers with plausible energy efficiency and renewable energy sources projects and financial institutions (FIs). In the manual it is possible to find useful information about the principles and a brief overview on how to prepare EE and RES projects for the FIs. It explains different types of financing and provides useful links to additional information sources.

Development of Projects (WP 3):

• Formed selection criteria of the projects:
• The territorial location of projects (regions with higher unemployment will be preferred);
• Technological and economical aspects (projects with high potential for replicability from the banking institution’s point of view);
• Environmental impacts (projects higher emissions savings reached);
• Innovation aspects (projects bringing new technological or financial solutions).
• Selected projects were prepared to the stage where the project developer can submit an application for commercial financing. All partners prepared 34 such projects.
• JSC “Eksergija” prepared 5 projects in Lithuania:
• 3 energy efficiency (EE) projects
• 2 renewable energy sources (RES) projects.
• For more information on Project Development follow the link to Best Practice EE and RES Financial Manual.

Bank Training (WP 4):

• Contacts with financial institutions (willing to participate in sustainable EE and RES projects implementation). Such willing expressed:
  • SEB Vilniaus Bankas
  • Hansabankas
  • Šiaulių Bankas
• Organization of Bank trainings at two different functions to 100-120 loan officers and bank credit managers from September to November 2006.
• Common training material( ~344kb);

Best Practice Dissemination (WP 5):

• Preparation and publication of the “Best Practice EE and RES Financial Manual”. It is prepared in all 5 Project languages with English version.
• English version of the Best Practice Manual is available here.( ~607kb);
• The complete CD including the manuals in 5 national languages is available here.( ~3.2mb);
• Organization of dissemination seminar on Thursday, 19 October, 2006, in Vilnius. The programme was regulated with objectives and tasks of CF-SEP project. There were about 50 participants of the audience.
• The presentations are available for download in national languages only.
• Europos Sąjungos energinio efektyvumo politika ( ~1.9mb)
• Energijos projektų rizika ( ~438kb)
• General conclusion of the seminar - More active cooperation among projects developer, energy consumers, suppliers, consultants and financial institutions is needed for the success of energy efficiency projects.
• Preparation of the article about the Project experience in the country. An article was published in the magazine “Silumine technika” (“Heat Technology”) ISSN 1392-4346, No 3 (31) in September, 2007.
• All achievements of the Project are available for those who will need it.

In the long-term perspective the achievable results are:

• Increase of number of EE and RES projects financed by commercial lending.
• Dissemination of information for FI specialists, project developers and other invited target groups.

For more information on other projects under Inteligence Energy Europe go to

http://ec.europa.eu/energy/intelligent/projects/index_en.htm