Release date: 28 July 2011
Promoter – Financial Intermediary
The Municipality of Sector 2 Bucharest
Location
Description
The project concerns the thermal rehabilitation of multi-family housing in the municipality of Sector 2 Bucharest. In total 245 buildings with about 15000 apartments shall be refurbished in 2012 and 2013. The investment will focus on thermal energy efficiency improvements of the building envelope (wall insulation, windows, roof and cellar insulation). The project builds up on the promoter’s past experience in the thermal rehabilitation of residential buildings started by the promoter in the past
Objectives
The project continues the future refurbishment of residential buildings under a programme started by the promoter since 2005. The proposed investments aim 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 reduce air pollution and mitigate climate change.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 60 million
Total cost (Approximate amount)
Approximately EUR 80 million
Environmental aspects
This operation will bring environmental benefits by supporting projects that reduce energy consumption and thus help to reduce air pollution and 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, if applicable, 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 require the Promoter to ensure that contracts for the implementation of the project have been or shall be tendered in accordance with the relevant applicable EU procurement legislation (Dir 2004/18 and 2004/17/EEC), with parallel publication of tender notices in the EU Official Journal, as and where appropriate.
Status
Signed - 6/12/2012