EBRD extends its support to SlovSEEF with € 60 million credit line
Date: 22 December 2016
EBRD Board Directors approved the € 60 million extension of the Slovak Sustainable Energy Finance Facility – SlovSEFF III, bringing the total figure to € 100 million available financing. The EBRD is deepening its support for the Facility with a new million loan extension to Slovenska Sporitelna, a.s. (SLSP) and to VÚB Banka, a.s. (VÚB). Additionally, one new bank will be provided with EBRD's credit line: OTP Banka Slovensko, a.s. (OTP) with € 10 million.
This EBRD credit line will allow the bank to provide financing to companies and housing associations for sustainable energy investments in Slovakia. To maximise the amount of greenhouse gas emissions reduced, the Facility will focus on renewable energy and industrial energy efficiency investments. Similarly, incentives to end-borrowers in a range of 5% to 20% of the loan amount will be based on each sub-project's potential to reduce greenhouse gas emissions.
The expansion of energy efficiency and renewable energy lending in Slovakia will prove the positive effects of rational energy utilisation, as well as the reduction of greenhouse gas emissions. It will also contribute to the mitigation of high energy and carbon intensity in the region.
Since July 2014, SlovSEFF III has disbursed more than € 12.80 million to 29 projects, expecting to reduce GHG emissions by 5,698 tCO2e per year and achieving 32,025.93 MWh of energy savings per year. The carbon reduction compensation (CRC), which is received in recognition of its future carbon abatement potential, amounts to € 704,847. The extension of the Facility will result in the inclusion of a larger number of projects financed.
SlovSEFF continues disbursing incentive payments in recognition of GHG savings
Date: 22 July 2016
Five new projects have been added to the list of verified projects as part of phase three of the Slovak Sustainable Energy Financing Facility (SlovSEFF).
The ESCO (Energy Service Company) company KOOR implemented three of the five projects. These three projects have facilitated the modernization or installation of new boiler rooms in sixteen railway stations in Eastern, Central and Western Slovakia. These boiler rooms run on natural gas and liquefied petroleum gas (LPG) instead of coal or electricity, thereby achieving greenhouse gas (GHG) emissions savings on improved energy efficiency and fuel switching.
The remaining two projects were developed and implemented by a local businessman Mr Marián Chovanec and by Versaco Company. Marián Chovanec has installed a PV solar plant on the roof of wellness centre in Puchov, and Versaco company has implemented thermal insulation and upgraded heating and lighting systems in an industrial production building.
Following the successful verification of the projects, incentive payments – or carbon reduction compensation payments – were disbursed by the financial institutions. The incentive payment calculation follows the principles of established GHG emission reduction methodologies and is used to determine the level of the incentive payment. These 5 projects combined are expected to reduce GHG emissions by 1,454 tonnes of CO2e per year, and have received a carbon reduction compensation of € 0.14 million. The loan size of the verified projects portfolio amounts to € 2.41 million.
For more information, please visit the interactive map and summary table, which includes additional information, specific to the project. SlovSEFF is developed by the European Bank for Reconstruction and Development (EBRD) and is co-funded by the Ministry of Environment of the Slovak Republic and the Ministry of Agriculture, Food and Environment of Spain.
SlovSEFF partners with Facility Management Camp 2016
SlovSEFF to deliver presentation at FM Camp workshop in Poprad on 28 April 2016.
Date: 28 April 2016
FM Camp is an initiative which aims to function as a discussion platform related to energy management and the use of computer technology in facility and property management in Slovakia. Every year, clients and service providers of Slovakia’s energy markets meet in Propad to learn about new technologies, success stories, exchange information and network.
Ing. Jan Pejter, Project Manager of SlovSEFF, will present how the energy management implementation can be financed under SlovSEFF and some of Facility’s best practice case studies, which include the use of renewable energies such as biomass or solar PV. These projects have benefited from dedicated technical assistance during the project appraisal process, in addition to incentive payments based on each project’s emissions reduction potential.
SlovSEFF disburses first incentive payments in recognition of GHG savings
Date: 29 March 2016
Ten projects financed under the third phase of the Slovak Sustainable Energy Financing Facility (SlovSEFF), have successfully passed verification and have received an incentive payment in recognition of their future greenhouse gas (GHG) emissions savings.
Nine out of the ten projects were developed by the district heating company Stefe Slovakia. These include various energy efficiency measures, such as the replacement of poorly insulated heat distribution pipes with new pre-insulated pipes, the installation of compact heat exchange substations, the reconstruction of boiler rooms and the reduction of energy intensity in heat production. The 10th project was implemented by printing company TBB, a.s. which replaced old machinery with more efficient printing equipment.
Following verification that the projects were implemented as initially designed in consultation with the SlovSEFF Project Consultant, incentive payments – or carbon reduction compensation payments – were disbursed to the projects. The incentive payment calculation follows the principles of established GHG emission reduction methodologies and is used to determine the level of the incentive payment. These projects combined are expected to reduce GHG emissions by 1,322 tonnes per year, and have received a carbon reduction compensation of €0.25 million. The loan size of the verified portfolio of projects amounts to €4.95 million.
For more information, please visit the interactive map and summary table which includes additional, project specific, information. SlovSEFF is developed by the European Bank for Reconstruction and Development (EBRD) and is co-funded by the Ministry of Environment of the Slovak Republic and the Ministry of Agriculture, Food and Environment of Spain.
SlovSEFF at Energy Camp 2015
SlovSEFF representative presented during the Energy Camp workshop organised in Poprad on 23/24 April 2015.
Date: 13 July 2015
Energy Camp is an initiative which aims to function as a platform for discussion related to energy management and the use of computer technology in energy management. Every other year, clients and service providers of Slovakia’s energy markets meet in Poprad to learn about new technologies and success stories, exchange information and network.
Ing. Marián Holúbek, relationship manager of SlovSEFF, highlighted the benefits of participating in SlovSEFF, which includes dedicated technical assistance in the project appraisal process. The focus shift towards renewable energy and industrial energy efficiency projects was also explained as well as the incentive payment scheme, now tailored to reward reducing emissions.
The presentation can be downloaded here:
EBRD supporting sustainable energy in Slovak Republic €20m loan for on-lending to private borrowers
Date: 13 June 2014
EBRD facilitates first carbon credit transaction between Slovak Republic and Spain proceeds to co-finance sustainable energy investments
Date: 28 May 2014