Energy Efficiency Fund
To improve energy eficiency and reduce reliance on external suppliers of oil and gas, lower the energy bills, and help protect the environment, the Energy Efficiency Fund was established.
The Fund was established on the 18 February 2015 by the Ministry of Finance, the Ministry of Energy and Public Investment Development Agency (VIPA). VIPA was appointed as the manager of the Fund. Later, VIPA signed a cooperation agreement with Central Project Management Agency to promote main objectives of the Fund.
The primary aim of the Fund is to increase the energy efficiency of public buildings for heating and lighting, to ensure the effective use of the State funds allocated to the improvement of energy efficiency of public buildings, to reduce emission of greenhouse effect gas (CO2) and to ensure the compliance of central government buildings with hygiene standards.
The fund manages 80 mln. euros. Up to 65 mln. euros are provided for the modernization of central government buildings and up to 14,5 mln. euros for street lighting modernization projects. Due to loans and guarantees financial instruments later returned funds will be re-invested in new energy efficiency projects and thus more projects will be financed.
It is planned that the Energy Efficiency Fund will operate until at least 2030.
Main activities of Public Investment Development Agency (VIPA) include implementation of financial instruments which provide loans, guarantees for repayable investments or the implementation of similar measures for urban development, optimization of public infrastructure and energy efficiency improvements financed by national, European Union and other financial assistance programs and financing sources
far fa-info
More information
More information about the Energy Eficiency Fund can be found here far fa-external-link
More information about EU's Energy Efficiency policy can be found here far fa-external-link