Release date: 29 April 2010
Promoter – Financial Intermediary
The Municipality of Sector 1 Bucharest
Location
Description
The project concerns a multi-annual investment programme (2010-2012) for thermal rehabilitation of 525 multi-storey residential buildings (approx. 25,000 apartments) located in Bucharest, Sector 1. The investment will focus on thermal energy efficiency improvements of the building envelope (wall insulation, windows, roof and cellar insulation).
Objectives
The proposed investment aims at reducing energy losses in multi-family lodgments and thus reducing consumption of energy resources. Thermal rehabilitation of multi-storey buildings is part of the National Energy Efficiency Action Plan of Romania aimed at bringing environmental benefits by supporting projects that help to mitigate climate change.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 125 million.
Total cost (Approximate amount)
Approximately EUR 220 million.
Environmental aspects
This operation intends to bring environmental benefits by supporting projects that reduce energy consumption and help to mitigate climate change. The individual schemes to be financed are likely to be small and are expected to have limited negative environmental impacts. The Bank will assess the promoter’s capacity and procedures to ensure compliance with national and European environmental and biodiversity regulations as well as its capacity to support the Bank's Public Disclosure Policy, which aims at facilitating access by the public to environmentally relevant information.
Procurement
The Bank will review systems and procedures applied by the promoter during appraisal to ensure that the promoter will follow suitable procurement procedures, ensuring an appropriate selection of works, goods and services offered at competitive prices, such that contracts will accord with the project’s best interests. The review will include verifying compliance with relevant national and EU legislation on procurement, which may include publication in the OJEU where appropriate.
Status
Signed - 10/08/2011
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).