Investing in energy efficiency and small renewable installations

A smart pathway to economic recovery after COVID-19 crisis

Energy efficiency through its multiple benefits should not only be treated as “the first fuel”, but also as a source of economic regeneration post the coronavirus.


Source IEA 

For this to happen, there is a need for enhanced investment in building renovations, increased use of sustainable heating and cooling, support for economies to produce nationally and install energy efficient technologies in residential, public and commercial buildings. 

The WBIF publication Investing in Clean Energy in the Western Balkans identified that energy efficiency investment needs in the region's buildings sector alone are probably in excess of €3 billion.

An intensive communication and large public awareness raising of the available financing mechanisms, technologies, their benefits, and the financial support opportunities is critical. Having this in view, the Energy Community Secretariat has taken upon itself the “mission” of sharing information and raising awareness of already existing financing opportunities, based on publicly available information. The focus is on regional programmes on energy efficiency and small renewable financing opportunities.

Most facilities rely on local financial intermediaries to identify and implement projects using funds provided by the facilities. Approximately 45 commercial banks or financial institutions offer energy efficiency or renewable energy financial products in the region. Many of their financial products are based on the offer of dedicated credit lines made available by the international financial institutions and development banks, supported by EU grant funding for both technical assistance and financial incentives. Some of the most illustrative examples are listed below.

Sources of retail finance
in the Western Balkans

 

The WBIF publication, Investing in Clean Energy in the Western Balkans (October 2019), contains a list of potential sources of retail finance. It was compiled on a best efforts basis from publicly available information. All information is indicative only.

Albania

Institution Target market Partner donating financial institution
BKT SMEs & RE projects, residential

Green for Growth Fund

Fondi Besa residential EBRD / Green for Growth Fund
Procredit Bank households & SMEs  
Union Bank residential EBRD / Green for Growth Fund
Credins Bank residential IFC (TA)
NOA Microfinance residential & SME IFC (TA)

 

Bosnia and Herzegovina

Institution Target market Partner donating financial institution
LIDER households

Green for Growth Fund

MI-BOSPO households Green for Growth Fund
Mikrofin households & small agri-businesses Green for Growth Fund
NLB Banka Banja Luka SMEs Green for Growth Fund
Partner households

 EBRD / KfW / Green for Growth Fund / GEFF

Procredit Bank SMEs   

 

Kosovo*

Institution Target market Partner donating financial institution
Microsunrise households

Green for Growth Fund

UniCredit Bank Banja Luka households & SMEs & residential Green for Growth Fund, EBRD / GEFF
Unicredit Bank Mostar residential EBRD / GEFF
AFK households & residential Green for Growth Fund, EBRD / GEFF
BPB households & SMEs

 Green for Growth Fund, EBRD / SME CSP

KEP Trust households Green for Growth Fund
Kreditimi Rural I Kosoves (KRK) households & residential Green for Growth Fund, EBRD/ GEFF
ProCredit Kosovo SMEs EBRD / SME CSP
TEB residential EBRD/ GEFF

 

Montenegro

Institution Target market Partner donating financial institution
Alter Modus households

Green for Growth Fund

Atlasbanka Local authorities  
Crnogorska komercijalna banka SMEs  
Hipotekarna banka SMEs  
Investiciono Razvojni Fond CG Local authorities & SMEs

 

Komercijalna Banka Budva SMEs  

 

North Macedonia

Institution Target market Partner donating financial institution
Halkbank MK households & SMEs

Green for Growth Fund

Ohridska Banka residential & RE projects EBRD / GEFF, Green for Growth Fund
Procredit Bank Macedonia residential & SMEs EBRD / GEFF
Sparkasse Macedonia residential EBRD / GEFF

 

Serbia

Institution Target market Partner donating financial institution
Addiko SMEs

 

Banca Intesa households & SMEs  Green for Growth Fund, EBRD /  WEBSE­FF 2 and SME CSP
Erste residential EBRD / GEFF
Erste Bank Novi Sad SMEs  KfW

Halkbank RS (Cacanska Banka)

SMEs & residential

Green for Growth Fund

Intesa Leasing Beograd  SMEs Green for Growth Fund
Komercijalna banka SMEs Green for Growth Fund
NLB Bank residential  
ProCredit Bank RS households & SMEs Green for Growth Fund
Raiffeisen Leasing SMEs KfW
Sberbank renewable projects  
UniCredit SMEs & residential & renewable projects Green for Growth Fund, KfW, EBRD / SME CSP, GEFF and PSSF