Release date: 21 October 2019
Promoter – Financial Intermediary
MUNICIPIUL BUCURESTI - SECTORUL 4Location
Description
The loan will finance the 3rd phase of "Bucharest Sector 4 thermal rehabilitation programme". This project falls under the Smart Finance for Smart Buildings (SFSB), a joint initiative of the EIB Group and the European Commission (EC) to support energy efficiency investments in buildings.
Objectives
The project will improve the energy efficiency of 181 homeowners associations located in Bucharest Sector 4. The project targets 475 buildings and will focus on thermal energy efficiency improvements of the building envelope (wall, roofs and cellar insulation), window replacement, improvements in the heating and domestic hot water systems and replacement of indoor lighting located in common spaces.
Sector(s)
- Industry - Construction
Proposed EIB finance (Approximate amount)
EUR 28 million
Total cost (Approximate amount)
EUR 106 million
Environmental aspects
This operation is expected to produce environmental benefits by supporting measures which reduce energy consumption, and help to mitigate climate change. The works on the buildings to be rehabilitated are expected to have limited negative environmental impact during construction. Given the scale, location and nature of the sub-projects an environmental impact assessment (EIA), as defined under the EIA Directive 2014/52/EU amending the 2011/92/EU, is normally not required. The operation will comply with the requirements of the Energy Performance of Buildings Directive 2010/31/EU.
Procurement
The promoter is a public entity and therefore public procurement rules will apply, therefore it is required that all contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable national and EU procurement legislation (Directive 2014/24/EU and Directive 2007/66/EC), which may include publication in the Official Journal of the European Union (OJEU) where appropriate.
Status
Signed - 11/12/2019
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).