Bogdan Tudorache
The European Investment Bank (EIB) has agreed to lend 21.1 million euro, the first tranche of an approved EIB loan of 63.6 million euro, for financing the third phase of the energy efficiency investment programme of Bucharest District 2. In total, 400 residential buildings will benefit from upgraded energy efficiency under this third phase, in addition to the 452 buildings under the first two phases.
”EIB funds will help to increase the energy efficiency of 400 residential buildings in Bucharest’s Sector 2. The resulting decrease of energy consumption, and thus a reduction in emissions and pollution, will also contribute to raising the living standards of Bucharest’s citizens. This climate action focused programme will further support Romania in meeting its international commitments regarding greenhouse emission reductions and energy savings,” said EIB’s Vice-President Andrew McDowell.
The improved thermal insulation of buildings will lead to 50% savings in the heating energy consumption of the houses concerned. EIB funds will finance up to 75% of the costs of this significant energy saving project, helping to implement both the Romanian Government’s National Energy Efficiency Action Plan and the EU Resource Efficiency Initiative.
The current operations represent a continuation of the EIB’s fruitful cooperation with various sectors of Bucharest. To date, the Bank has approved funding amounting to 613 million euro to finance the energy efficiency refurbishment of multi-apartment buildings in different sectors of Bucharest.
This includes the rehabilitation of 2,405 residential buildings with 143,300 apartments and the construction of educational facilities, including NZEB (Near-Zero Energy Buildings) and energy efficiency upgrades for afterschool facilities resulting in lower energy consumption and reduced emissions.
The total energy savings achieved or envisaged as a result of the energy efficiency measures amount to 983,000 GWh per year, corresponding to a 416,000 tonnes of CO2 reduction.