Client: European Bank for Reconstruction and Development (EBRD)

Dates: 2004 - 2014

Country of assignment: Bulgaria

Description of actual services provided:

In 2004, EBRD established Bulgaria Energy Efficiency and Renewable Energy Credit Line (BEERECL) whereby the EBRD extended loans to eight Participating Banks (PBs), and PBs provide sub- loans to private sector companies for industrial energy efficiency projects and renewable energy projects. Eight PBs signed loan agreements with EBRD for a total amount of EUR 155 million ( The program was implemented by EBRD with funding provided by the Kozloduy International Decommissioning Support Fund (KIDSF).

Encon Team’s responsibilities included:  

  • Developing detailed Outlines of Rational Energy Utilization Plans (REUPs)
  • Developing Completion Validation Review (CVR) Templates and Guidelines
  • Preparing Rational Energy Utilization and Financing Plan Development Handbook including Project Development Cycle, Credit Line Facility Application Form and Procedures, Project Origination and Project Eligibility Evaluation and Procedures, Eligibility Appeals Procedure, Waiver Letter
  • Preparing an Operation Manual for Participating Banks (PBs) personnel involved in the implementation of the Facility
  • Providing guidance and appropriate training materials/sessions for the PBs personnel to ensure dissemination of the Facility's procedures into the branches
  • Ensuring a pipeline of energy efficiency and small renewable projects that meet the KIDSF criteria
  • Providing project pre-screening, eligible project identification, and loan origination
  • Communicating with PBs on potential loans' terms and conditions
  • Energy auditing and preparing Energy Audit Reports
  • Preparing Rational Energy Utilization Plans (REUPs)
  • Supporting project sponsors throughout loan application/approval process, and the formulation of loan applications to PBs
  • Assisting project sponsors in communication with the Independent Energy Expert (IEE) for Completions Validation Reviews (CVRs)
  • Providing Public Awareness campaign for the Facility promotion and the benefits of rational energy utilization
  • Assisting PBs with the credit line marketing
  • Building and operating the Programme's website
  • Providing administration and monitoring of the Facility's project portfolio and reporting to EBRD
  • Administration and monitoring of the Facility and reporting to EBRD

As of 31 January 2014, 290 loans were signed with total investments of EUR 247 million and the total incentive grants from KIDSF of EUR 25 million for the following projects:

  • 172 energy efficiency projects
  • 9 CHPs
  • 22 biomass and biogas boilers and CHPs
  • 9 heat pumps
  • 34 hydropower plants
  • 29 wind projects
  • 10 PV projects and
  • 5 solar thermal projects 

These projects provide energy savings equivalent of 1,076,722 MWh and CO2 emissions reduction of 709,619 tons per year.

These projects provide energy savings equivalent of 1,076,722 MWh and CO2 emissions reduction of 709,619 tons per year.