Banca Comercială Română launches the Energy Efficiency Loan dedicated to companies, which will cover 85% of the estimated total investment, which supports investment projects in solutions that ensure better management of energy consumption.

Financing for energy efficiency is intended for investments in the modernization of equipment, technological lines, but also for the thermal rehabilitation of buildings, including high-efficiency cogeneration or trigeneration installations, which offer one of the most efficient economic efficiencies for energy generation. The new lending solution responds to the need to reduce carbon dioxide in the operations of private and state-owned companies and contributes to reducing pollution.

“Energy efficiency is a critical piece of the puzzle of the fight against climate change, without which companies, governments and civil society will not be able to achieve their ambitious goals. A joint effort is needed to raise awareness of the need for sustainable development projects, especially because when we discuss the impact of operations on the environment, how companies can make a profit changes significantly. That is why, through the Energy Efficiency Credit, we have launched a financing solution, with a long-term impact, which comes to the aid of the community and all those interested in the business transition to climate neutrality. The energy efficiency projects of the buildings, of the production units, as well as the renewable energy and cogeneration projects can be financed,” said Mădălina Dorilă, BCR Corporate Credit Manager.

The Credit for Energy Efficiency is a non-revolving investment product, which can be accessed in both lei and euro, and benefits from:

• Medium and long term financing period
• Eligible expenses:
  – Expenses with project implementation – pre-installation preparation, installation installation, commissioning, purchase of equipment / machinery / materials for renovation, etc.
  – Investment-related expenditure – eligible expenditure related to the implementation of the project, as long as this expenditure does not exceed 50% of the total estimated value of the investment (example: painting the renovated building after its insulation)
  – The award commission may be charged from the amount financed
  – Project Consultancy Commission – financing or refinancing the commission already paid by the client for drawing up or verifying the proposed energy efficiency project
• Guarantees – movable or immovable mortgage on the goods financed from the credit / mix of guarantees
• The maximum value that can be financed by the bank – 85% of the estimated total investment

BCR draws attention to investments in energy efficiency and strengthens its loan product portfolio for a wide range of industries, providing access to specialized advice in the field of energy efficiency. In fact, in order to confirm the viability of the energy efficiency projects proposed by the companies, BCR collaborates with several consultants specialized in the field. The services provided by the consultants cover both the identification and evaluation of investment opportunities in the area of energy efficiency for different sectors of activity, as well as the definition and preparation of the investment project in energy efficiency.

The bank supports the process of raising awareness of the benefits of energy efficiency through cost-effectiveness, but also of maintaining relevance in the distribution chain. And among the biggest advantages of implementing investments in energy efficiency are:

• Compliance with technical standards and environmental regulations
• Reducing production costs and increasing competitiveness
  – Reduction of utility costs (production cost)
  – Reducing maintenance and operating costs
  – Reduction of production losses (unforeseen shutdowns, scrap, etc.)
• Less vulnerability to future increases in utility prices
• Increasing the global competitiveness of the company on the market

The projects eligible for financing through the Energy Efficiency Credit are those of:

Energy Efficiency Buildings: thermal insulation; building automation; replacement of boilers with heat pumps; modernization of the lighting system; installation of thermostatic valves.

Energy Efficiency Production: optimization of compressed air systems; “lost” heat recovery; savers for existing boilers; replacement of electric motor and other equipment; speed variators.

Energy Efficiency Renewable Energy and Cogeneration: photovoltaic modules; solar systems for heat generation; high energy efficiency cogeneration / trigeneration.