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    Reference: 20200254
    Release date: 19 October 2020

    Promoter – Financial Intermediary

    MUNICIPIUL BUCURESTI - SECTORUL 6

    Location

    Description

    Financing of the fourth phase of the Bucharest S6 thermal rehabilitation programme to improve the energy efficiency of 277 individual buildings (corresponding to 85 homeowner associations) located in Sector 6 of Bucharest Municipality. This project falls under the Smart Finance for Smart Buildings (SFSB) Initiative, a joint initiative of the EIB Group and the European Commission (EC) aimed at supporting energy efficiency investments in buildings.

    Objectives

    The project will improve the energy efficiency of 85 homeowners associations located in Bucharest Sector 6. The project targets 277 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)

    Proposed EIB finance (Approximate amount)

    EUR 20 million

    Total cost (Approximate amount)

    EUR 95 million

    Environmental aspects

    This operation is expected to produce environmental benefits by supporting measures which reduce energy consumption and help mitigate climate change. 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. The Bank will require the Promoter to ensure that 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 EU where appropriate.

    Status

    Signed - 13/04/2021

    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).

    Related tags

    Romania Urban development