News

With an EIB loan of EUR 18 million and a complementary EUR 3 million guarantee, ALTUM is fostering investments in energy efficiency measures and small-scale renewables targeted at SMEs, mid-cap companies and, in some cases, large enterprises, specifically in the industry sector.

BNP Paribas Bank Poland signed a guarantee agreement worth EUR 16 million which will unlock EUR 166.7 million of new financing for energy efficiency projects. Target clients are farmers, homeowners and housing associations who want to invest in building refurbishment measures or install renewable energy sources such as photovoltaics.

Both banks also benefit from the Expert Support Facility (ESF). Through technical assistance services, the ESF supports these banks in easing the launch of the PF4EE credit line within their institution, fosters effective PF4EE loan appraisal and reporting within the banks; and builds the banks’ capacities on specific topics related to energy efficiency financing.

Please find more information here:
EIB press release regarding ALTUM >
EIB press release regarding BNP Paribas Bank Polska >

The project was implemented on the basis of an Energy Performance Contract and allowed to reach savings of about 40% of steam and 20% of electricity, for example through better insulation of the machines. Pragoperun’s project is only one of many energy efficiency projects that have been financed under PF4EE in the Czech Republic and which achieve economic benefits and substantial energy savings for SMEs at the same time: Komerční Banka has loaned about € 33.5 million to over 50 clients in the Czech Republic so far.

Jan Rosen, a product manager at Komerční Banka, highlights the environmental aspects of projects like the one of Pragoperun and of PF4EE as a whole: “The main criteria were that the clients’ projects had to be motivated by a reduction of energy consumption – not just profit”. Drahomíra Lamserová, KB Public Programmes Manager, adds that there is a big potential for energy efficiency financing in the Czech Republic since many premises are quite old and thus could improve their energy performance through measures such as insulation, new ventilation systems, or more efficient heating. Alexandra Almeida, Senior Loan Officer at EIB, emphasizes the good collaboration with Komerční Banka:  “I am very fortunate and happy to have helped Komerční Banka identify eligible projects and make this facility a major success for both our institutions.”

The PF4EE story Cleaner laundry for the Czech Republic is featured in the European Investment Bank’s podcast series Future Europe. Future Europe outlines innovative ideas on societal and technical aspects of tomorrow's EU.

The EEQuest tool serves two key goals: On the one hand, it aims to automate, to an extent, the process of loan appraisal at the bank staff’s side, and thus bring down transaction costs. The energy savings estimation embedded in the tool is particularly relevant in this respect, since projects with smaller investment volumes often do not go along with required energy savings documentation. On the other hand, the tool aims to support financial intermediaries in marketing dedicated energy efficiency finance and raise awareness by giving their staff and their clients the possibility to identify the energy savings potential of standard projects and technologies.

Please find more information here:
EIB blog story: An easier tool for energy efficiency >
EEQuest online tool >

Through the Belfius Energy Efficiency Package (BEEP), which is backed by the European Investment Bank’s Private Finance for Energy Efficiency (PF4EE) instrument, Belfius has already financed over 25 ESCO and third investor projects at an aggregate loan amount of over EUR 25 million.

In an interview with the PF4EE Expert Support Facility, Joost Declerck, energy efficiency promoter at Belfius Bank, shared his view on drivers of success for developing the ESCO market segment.

Read the interview here >

Belgium now has a hospital that is primarily powered by renewable energy, thanks to the installation of the country’s first trigeneration unit at a hospital site in Godinne, Namur Province. Based on the gasification of waste wood, the project generates renewable power for 50% of the hospital’s electricity requirements, 90% of its hot water needs for sanitary use and heating as well as 25% of cooling energy needed for its refrigeration circuits. This cutting edge environmental innovation project has been co-financed through BEEP/PF4EE.

In Brussels, a project financed through third-party investment based on a combination of a BEEP/PF4EE loan and eco-citizen financing led to the installation of a highly efficient natural gas cogeneration facility as well as the complete roof renovation of a 27-storey apartment building. Jointly, both measures resulted in annual primary energy savings of 1,100 MWh and annual energy cost savings of EUR 40,000.

In the third example, Anderlechtse Haard, one of the largest social housing companies in the Brussels Capital Region, signed an energy performance contract with an energy service company to improve the energy efficiency of the Anderlechtse Haard’s residential buildings. This included the installation of 15 new building management systems, 7 PV systems with more than 160 solar panels as well as 7 cogeneration units. The respective measures were primarily financed through a EUR 3,8 million BEEP/PF4EE loan.

Please find more information here:

Project 1:
Showcase “Xylowatt / Godinne Hospital” >
EIB press release >
Youtube video >
EIB blog story „Turning waste into jobs in Belgium” >

Project 2:
Showcase “Watt Matters / Rue Marius Renard” >
EIB press release >
Youtube video >

Project 3:
Showcase “Anderlechtse Haard” >
Belfius press release >

The tool was developed as part of Santander’s collaboration with the EIB under the PF4EE instrument that provides up to EUR 50 million for energy efficiency investments in Spain. The WebCheck invites both the bank’s staff as well as potential clients to pre-check the eligibility of projects for a PF4EE loan and to obtain estimates regarding a project’s energy, cost, and CO2 savings potential.

The tool can be accessed free-of-charge via Santander’s webpage.

Press coverage in the Spanish media (examples):
Europapress >
El Economista >
El Español >
Sábado >
El Imparcial >

BPI’s PF4EE WebCheck tool is available free-of-charge and without registration via BPI’s webpage.

In the beginning of this year, BPI announced the launch of the tool through various channels, and raised awareness for the availability of energy efficiency financing through the PF4EE instrument at the same time.

Press coverage in the Portugese media (examples):
Jornal de Negócios >
Edifícios e Energia >
Dinheiro Vivo >
Sábado >
Ambiente Magazine >

Piraeus Bank and EIB have signed an agreement worth EUR 100 million. This is the largest engagement in any European country under the PF4EE instrument so far. The Greek bank has announced to on-lend the EIB loan to small-scale energy users that invest in energy efficiency projects related to existing buildings, outdoor lighting and water pumping stations.

Zagrebačka Banka (ZABA), the largest commercial bank in Croatia, receives an EIB loan of EUR 40 million to be on-lent to energy efficiency investments by small businesses and corporates.

Please find more information here:
EIB press release regarding Piraeus >
EIB press release regarding Zagrebačka banka >
Zagrebačka banka press release on PF4EE agreement with EIB >
News Article on greenbanking.gr regarding Piraeus (Greek language) >
News Article on ecopress.gr regarding Piraeus (Greek language) >

The new pilot banks include Belfius Bank in Belgium, BPER Banca in Italy and Banco BPI in Portugal.

With Belfius, the EIB signed an agreement over EUR 75 million to boost corporate energy efficiency in Belgium. Loans under this agreement will be available to both businesses and Energy Service Companies (ESCOs). BPI and EIB signed a EUR 50 million loan agreement which primarily targets energy efficiency and small renewable energy investments in Portugal’s corporate sector. While the PF4EE loan offered to BPER is equal in size (i.e. EUR 50 million), its targets are more varied, ranging from energy efficiency of buildings and productive structures to district heating systems, public lighting infrastructure and cogeneration.

Please find more information here:
EIB press release regarding Belfius >
EIB press release regarding BPER >
EIB press release regarding BPI >

The announcement that three financial intermediaries enter into agreement with the EIB marks the launch of operations under the new PF4EE instrument which was initiated by the European Investment Bank and the European Commission (LIFE Programme) a few months earlier.

PF4EE combines an EIB loan, a risk sharing facility covering potential losses as well as technical assistance to support PF4EE partner banks in the implementation of the instrument.

While all financial intermediaries participating in PF4EE are entitled to equally benefit from the instrument’s three abovementioned components, each bank is invited to individually shape its activities under PF4EE according to the local market’s needs.

Santander, for instance, announced to on-lend the EIB loan primarily for financing investments in the Spanish hotel and tourism industry. Komerční Banka, on the other hand, focuses mainly on SMEs and projects in the buildings sector. Crédit Coopératif targets associations, cooperatives, and other enterprises in the social and solidarity economy.

Please find more information here:
EIB press release regarding KB >
EIB press release regarding Crédit Coopératif >
EIB press release regarding Santander >