EBRD Launches €200 Million Sustainable Energy Financing Facility in Poland

November 05, 2014

The European Bank for Reconstruction and Development (EBRD) has launched its second Polish Sustainable Energy Financing Facility (PolSEFF2), implemented by DAI, with €200 million that will be loaned via local banks to small and medium-sized enterprises (SMEs) in Poland to finance investments to replace or upgrade heating, cooling, electric, and related systems, thereby reducing energy bills and decreasing carbon emissions.

Investment grants will be provided by the Polish National Fund for Environmental Protection and Water Management (NFOSiGW) and technical cooperation will be provided by the European Commission.

PolSEFF2 builds on the highly successful first stage of the programme that enabled hundreds of Polish businesses over the past three years to invest in energy-efficient solutions.

For the first time, Polish authorities are joining the effort through the participation of NFOSiGW, which will provide investment grants of up to PLZ60 million (approximately €14.2 million). Established in 1989, NFOSiGW is involved in co-financing large investments with nationwide significance.

Grzegorz Zieliński, EBRD Director for Poland, said: “Small and medium-sized businesses are the engine of our economy. Projects like PolSEFF are of paramount importance for the long-term energy sustainability in Poland and good for business. We are extremely pleased to be cooperating with NFOSiGW and see it as a crucial element for the success of the second version of PolSEFF.”

PolSEFF2 is implemented through Polish commercial banks. Their role is critical for reaching out to local SMEs clients. BNP Paribas Bank Polska SA will be the first bank to join the initiative.

“Targeting energy-saving investments by SMEs is fundamental for the economic development in Poland, but it is also crucial for achieving our country’s goals in environmental protection,” said Małgorzata Skucha, President of NFOSiGW. “This new programme will demonstrate the financial and environmental viability of investing in the best available energy efficiency and renewable energy technologies across all Polish SME sectors.”

To date, the EBRD—with financial support from the European Commission—has financed more than 2,000 energy-efficiency projects in Polish SMEs worth more than €190 million, resulting in annual energy savings of 342 gigawatt hours and emission reduction of 102,000 tons of carbon dioxide.

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