PF4EE operates through national partner banks in several member states of the European Union.
Currently, PF4EE financing for energy savings projects is available in the following countries: Belgium (Belfius), Greece (Piraeus), Italy (BPER), Latvia (ALTUM), Poland (BNP Paribas Bank Polska), and Portugal (BPI). These financial intermediaries offer preferential PF4EE loans for private economic entities that are established in their respective country.
Participation in PF4EE
2017 - 2023
Volume
EUR 75 million
Activities
As market leader in the public and social profit sector in Belgium and as ambitious challenger in the corporate sector, Belfius’ objective is to fully support its customers in their energy efficiency projects. Thus, Belfius joined the PF4EE instrument in 2017 and deployed it through the Belfius Energy Efficiency Package (BEEP), their dedicated loan product for energy efficiency financing.
BEEP intended to directly finance energy efficiency projects of enterprises as well as social profit and education institutions. Further, indirect financing, channelled through energy service companies (ESCOs) and third investors, was provided to public energy efficiency projects. The main target sectors of the BEEP product included co-generation, public lighting, district heating and renewable energy projects related to existing buildings.
Thanks to the PF4EE instrument’s portfolio guarantee, Belfius successfully developed financing for EPC-projects (Energy Performance Contracting) in education, social housing and the public sector. Further, several third investor projects relating to photovoltaic installations, co-generation and district heating have been realised.
With the support of the PF4EE instrument, Belfius was able to set up a permanent green lending office, integrate green lending in the sustainability strategy, increase the internal know-how on energy efficiency and identify and develop integrated solutions for Belfius’ customers.
Further Information & Materials
Belfius Webpage >
News: Belfius joins PF4EE >
News: A spotlight on projects financed under PF4EE >
News: Interview on Financing ESCO Projects >
Download: ESCO Financing: A Success Story from Belgium >
Download: Showcase „Anderlechtse Haard“ >
Download: Showcase „Watt Matters/ Rue Marius Renard“ >
Download: Showcase “Xylowatt/ Godinne Hospital” >
2019 - 2021
VolumeEUR 40 million
ActivitiesAs a market leader in Croatia, Zagrebačka banka was the first bank in the Croatian market to join PF4EE to complement their green strategy with the innovative PF4EE instrument and to support their customers in energy efficiency projects.
Zagrebačka banka, a member of the UniCredit Group, is successfully recognised in the market of green business and environmental sustainability. The UniCredit climate strategy comprises several initiatives for climate protection. These include for example a major reduction in operational emissions of greenhouse gases, investing in renewable energy sources for own needs and a portfolio of energy efficiency loans for customers.
Through PF4EE, Zagrebačka banka targeted eligible energy efficiency and small renewable energy investments in Croatia, mainly in the corporate sector, including residential and non-residential building refurbishment and the renovation of industrial facilities. The focus was in particular on financing energy efficiency projects that are implemented by SMEs, but also by MidCaps, large companies and by legal entities that are owned by municipalities.
Further Information & MaterialsZABA Webpage >
News: New PF4EE partner banks in Croatia and Greece >
Zagrebačka banka press release on PF4EE agreement with EIB >
2016 - 2020
VolumeEUR 75 million
ActivitiesKomerční Banka (KB) was the first bank to join the PF4EE instrument and it has been able to broaden its energy efficiency lending portfolio significantly. In view of its prior experience with investments in building renovation measures, renewable energy projects and energy efficiency in industrial processes, KB used PF4EE to promote a newly designed loan product called “EuroEnergie”.
Like PF4EE, the product EuroEnergie was dedicated to a large variety of energy efficiency investments. It covered simple energy savings adjustments as well as complex solutions for industrial plants. This included in particular the thermal insulation of building envelopes, renewable energy generation in existing buildings, the replacement of inefficient production facilities for more efficient ones, and co-generation.
The energy efficiency loan pipeline development was facilitated through various experts and engagements e.g. with stakeholders from the energy efficiency market including cooperation with relevant energy efficiency companies and the participation in energy efficiency financing forums.
Further Information & MaterialsKomerční Banka Webpage >
News: Komerční Banka joins PF4EE >
Download: Manual „Financing Energy Efficiency Measures“ (Czech language) >
Launch of PF4EE
2022
Activities
Franfinance, part of Groupe Societé Generale, joined a growing number of European banks to participate in the PF4EE programme, receiving a PF4EE guarantee and a complementing loan from the European Investment Bank. Franfinance offers innovative financing solutions in the two fields of consumer credits for individuals and asset financing for corporate clients. The PF4EE guarantee and loan will be applied to the asset financing activities of Franfinance. In this business field, Franfinance works in close partnership with manufacturers and vendors and offers individual asset financing solutions to the vendors and their customers which include SMEs and large companies in France. Franfinance enjoys a strong reputation for its capacity to meet financial commitments, and is well-established in the business sectors of industrial equipment, transport, handling, and other high-tech solutions.
Franfinance participation in the PF4EE programme would in particular promote lending for energy efficiency equipment in industry, increase renewable energy generation capacity on business premises and create energy savings for corporate clients. Supported equipment may include, among others, low-energy lighting installations, heat pump or PV installations and electric vehicle charging stations. The partnership aims to stimulate investments in assets related to energy efficiency. In addition, a significant share of the investments will be in cohesion regions, and thus support the development of those regions.
Further Information & Materials
2016 - 2019
ActivitiesCrédit Coopératif was the first French bank to participate in the PF4EE instrument. Following a respective agreement with the European Investment Bank in 2015, Crédit Coopératif implemented PF4EE in France through its "Agir pour l'Efficacité Énergétique" loan product.
Amongst a wide range of banking and expert services, Crédit Coopératif dedicates its services mainly to responsible economic activities that are respectful of people and the environment. Historically, Crédit Coopératif is a cooperative of legal entities. The bank’s clients (companies and their groups, other cooperatives, SMEs / SMIs, mutual societies, associations, and bodies of general interest) are at the same time its cooperative members which contribute the bank’s capital. More recently, an increasing number of individuals were also choosing Crédit Coopératif, thanks to numerous social innovations.
Crédit Coopératif is committed to supporting organisations and companies in the reduction of their environmental impact and was strengthening its actions in this area by the implementation of PF4EE.
Further Information & MaterialsCrédit Coopératif Webpage >
News: Crédit Coopératif joins PF4EE >
2018 - 2021
VolumeEUR 75 million
ActivitiesPiraeus Bank is one of the largest banks in Greece and started operations under the Private Finance for Energy Efficiency programme in 2018.
The bank focuses on financing investments with a positive environmental and social impact that contribute to sustainable development while at the same time being financially viable. Taking advantage of the PF4EE instrument Piraeus Bank aimed to further expand and strengthen its lending activities for energy efficiency projects in Greece, targeting investments in energy efficiency improvements in existing buildings, small-scale photovoltaic (PV) as well as stand-alone PV projects. By using the PF4EE instrument Piraeus Bank was fostering its leading position in green financing across Greece.
Further Information & Materials2022
ActivitiesThe Solas Sustainable Energy Fund (SSEF) is a new regulated fund domiciled in Ireland, classified as “Dark Green”, the highest category under the European Union's new Sustainable Finance Disclosure Regulation. The fund provides project financing solutions to Energy-as-a-Service-Markets and Energy Service Companies (ESCOs) as aggregators of energy efficiency projects. SSEF has reached its first close with EUR 140,000,000 and invests in energy saving business models across Europe, focusing on technologies such as improvements in heating and cooling, rooftop solar PV, and LED lighting. SSEF offers tailor-made, flexible and long-term funding schemes to technology firms, energy service companies (ESCOs) and project developers to enable new investment in energy efficiency. Projects in both the public and private sectors are supported, including the SME sector, which faces more challenges in securing finance.
To promote private finance for energy efficiency, the EIB agreed with SSEF as first investment fund to enter into a guarantee and technical assistance agreement under the PF4EE programme. Further the EIB committed EUR 30,000,000 as cornerstone investor, backed by the European Fund for Strategic Investments, the main pillar of the Investment Plan for Europe. Other investors of SSEF are the Ireland Strategic Investment Fund and other institutional investors such as MEAG, the asset manager of Munich Re Group.
SSEF is advised by Solas Capital AG, a specialist investment advisory firm founded and managed by professionals from the energy efficiency financing sector. Through the development of innovative financing solutions Solas Capital's mission is to support the move to a carbon neutral society. By understanding both the funding needs of energy efficiency projects and the requirements of institutional investors, Solas Capital bridges the gap between investors and projects.
Further Information & MaterialsSolas Capital AG Webpage
Press release EIB – Solas Sustainable Energy Fund joins PF4EE
Participation in PF4EE
2017 - 2023
Volume
EUR 50 million
Activities
BPER BANCA launched PF4EE in 2017 and deployed the instrument through its dedicated energy efficiency loan product “Life4Energy”.
However, “Life4Energy” only became fully operational at a later point, after initial difficulties regarding the verification of potentially eligible projects were overcome.
Through Life4Energy, BPER targeted in particular projects that focus on energy efficiency improvements in ceramics production, food production, agriculture, mechanics, tourism (hotels and resorts), malls, paper production, and pharmaceuticals.
During the deployment BPER has seen the highest energy efficiency financing demand in relation to photovoltaic projects for self-consumption. Further, several public lighting improvements that were implemented through Energy Service Companies have been financed.
Further Information & Materials
BPER WebCheck Tool >
BPER Webpage >
Download: Showcase „GMV Martini“ >
News: BPER joins PF4EE >
2020 - 2022
VolumeEUR 18 million
ActivitiesALTUM is a Latvian state-owned development bank and the first institution of the Central and Eastern European Countries that has issued green bonds to foster investments that contribute to climate change mitigation. In addition, ALTUM is developing and implementing government support programmes using financial instruments such as loans, loan guarantees and investments in venture capital funds to compensate for the market's shortcomings that can't be solved by private financial institutions.
With the PF4EE instrument Altum was targeting investments in small scale renewables and energy efficiency measures particularly in the industrial sector (e.g. renovation of buildings and redesign of industrial processes). This comprised improvements in centralised heating systems, insulation of buildings, as well as energy management systems. ALTUM’s activities focused on SMEs and mid-caps, but also some large enterprises.
Further Information & Materials2020
ActivitiesBNP Paribas Bank Polska offers responsible and innovative financial solutions to help customers in their sustainability journey and support the Polish economy. This includes offers that support the bank’s clients to transition to a low carbon economy. To foster such programmes, BNP Paribas Bank Polska concluded a EUR 16 million PF4EE guarantee agreement with the European Investment Bank in the end of 2019.
Under PF4EE, BNP Paribas Bank Polska will be able to provide EUR 166.7 million of new financing to energy efficiency projects, which the Bank estimates will benefit around 15,000 customers. Targeting homeowners, farmers, and housing associations, the programme can support the installation of renewable energy sources such as photovoltaics in individual homes and micro-farms, as well as finance building refurbishment measures that lead to higher energy efficiency in multi-home apartment buildings. Such measures include energy efficient windows or facades, heating and ventilation systems, or renewable energy sources integrated into the buildings. Investments in such measures not only help to reduce energy bills but also greenhouse gas emissions, which is of high priority for the Polish authorities and the European Union as a whole, regarding the ambitions targets set as part of the Agenda 2030 and the Paris Agreement.
Further Information & MaterialsBNP Paribas Bank Polska Webpage >
EIB press release regarding BNP Paribas Bank Polska >
2017
VolumeEUR 50 million
ActivitiesBanco BPI joined the PF4EE instrument in 2017 as the exclusive partner bank in Portugal. Through PF4EE, BPI aims to improve the bank’s energy efficiency and renewable energy financing offer with the support of the European Unions’ Life Programme for the Environment and Climate Action.
Drawing on PF4EE, BPI created the Linha BPI/BEI Eficiência Energética loan product. Through this product BPI finances, under competitive conditions, energy efficiency projects that are implemented by companies across Portugal.
Though Linha BPI/BEI Eficiência Energética targets a wide variety of energy efficiency investments, current transactions mainly focus on photovoltaics (PV) projects for self-consumption. In several cases, these PV projects are combined with energy efficiency improvements in existing buildings, relating to the building envelope as well as the building technical system. One major project which BPI finances under the PF4EE instrument are roof-top PV systems that are installed by a group of supermarkets across Portugal, in order to reduce these supermarkets’ energy consumption from the grid.
To foster energy efficiency loan pipeline development, BPI engages in targeted activities on a regular basis. In the past, such activities included participation and presentation in events and forums across Portugal with the goal of promoting energy efficiency action; publication of press releases to share news regarding Linha BPI/BEI Eficiência Energética; regular advertisement in newspapers and magazines; and the establishment of strategic partnerships with energy efficiency stakeholders through a dedicated BPI team. Further, BPI offers a customized version of the PF4EE WebCheck tool to potential clients. Interested agents can use the tool to get an idea of the energy savings potential of their projects and to pre-check the eligibility for PF4EE / Linha BPI/BEI Eficiência Energética financing.
BPI’s participation in the PF4EE instrument is another example of the bank’s commitment to sustainable business practices. The instrument perfectly aligns with BPI’s sustainable finance strategy and with the Portuguese government’s commitment to mobilize funding in order to enable the transition to a sustainable economy.
Further Information & MaterialsBPI WebCheck Tool >
BPI Webpage >
News: BPI joins PF4EE >
News: Launch of BPI WebCheck Tool >
2016 - 2020
VolumeEUR 50 million
ActivitiesBanco Santander, Spain’s biggest bank and one of the most relevant banks globally, implemented the PF4EE instrument in Spain.
In view of the composition of the Spanish market and Santander’s client base, the bank targeted in particular self-employed individuals and small- and medium-sized (SME) companies for PF4EE financing with a main focus on energy efficiency measures to improve the energy performance of buildings. Through PF4EE Santander established the loan product ‘Préstamo BEI Eficiencia Energética’ as an easy-to-access financing for energy efficiency projects at preferential interest rates for their clients.
In view of the relatively small investment amounts that went along with energy efficiency projects conducted by self-employed individuals and SMEs, simplification and standardisation played a key role in Banco Santander’s approach. Thus, Santander was provided with the ‘simulador’, a customised version of the PF4EE WebCheck Tool. The tool enables the online validation of projects and illustrates to customers how they can reduce their energy consumption even through small actions. Further, Banco Santander developed a series of material to explain the loan product’s terms, the usage of the WebCheck tool, as well as the potential scope and advantages of energy efficiency investing to clients in the most accessible way.
Further Information & MaterialsSantander Webpage >
News: Santander joins PF4EE >
Download: Manual EE Measures in the Spanish Hotel & Tourism Industry >