The EU EBRD Romania SME Sustainable Energy Finance Facility (RoSEFF) was a programme to help Small and Medium Sized Enterprises invest in energy efficiency and renewable energy solutions. Over the period 2012 - 2015, RoSEFF helped to finance 341 investment projects with a combined value of 68 million Euro, including credits of 57 million Euro from Participating Financial Institutions.
The main stakeholders in RoSEFF were:
The European Union
- The EU was the RoSEFF donor - providing non-reimbursable financing to support operation of the facility and financing Incentive Payments (EU Grants) of up to 15% of the value of the corresponding RoSEFF credit that SMEs used to invest in energy efficiency and renewable energy solutions.
The European Bank for Reconstruction and Development
- EBRD brought loan financing for Romanian 'Participating Financial Institutions' (banks) to on-lend to their customers who invested in energy efficiency and/or renewable energy.
- EBRD has operated Sustainable Energy Finance Facilities (SEFFs) in 24 countries so far - see www.ebrdseff.com
- RoSEFF was one of three SEFFs in Romania - MFFEE (for municipalities), EEFF (for private sector companies) - www.eeff.ro, and this facility - RoSEFF (for private sector SMEs) - www.seff.ro.
Participating Financial Institutions (PFIs)
- RoSEFF PFIs were four Romanian banks (BCR, BRD, BT, UniCredit Bank) who borrowed from EBRD to on-lend to their SME customers who invested in sustainable energy.
The Project Consultant - a consortium led by Tractebel Engineering S.A.
The consortium, who managed RoSEFF under contract to EBRD, comprised:
- Tractebel Engineering - who managed RoSEFF and provided technical consultancy
- Enclude Solutions - who helped the PFIs to roll out the facility
- Romnet Creative - who took care of marketing and publicity aspects of RoSEFF.
The Verification Consultant - MWH SpA (Italy)
The role of the Verification Consultant was:
- Visit large-scale and complex investments that were financed using RoSEFF to confirm that they were carried out substantially in accordance with the corresponding Rational Energy Utilisation Plan by Tractebel Engineering; and
- Issue a verification report, based on which the PFI paid the corresponding EU grant.
Romanian Small and Medium Sized Enterprises (SMEs)
- Privately owned SMEs could benefit from loans, EU grants and free Technical Consultancy through RoSEFF.
- An SME was defined using the EU definition - fewer than 250 employees and less than 50 million Euro turnover.
Romanian housing associations
- Although most block associations were considered to be the equivalent of SMEs from the point of view of RoSEFF, so were eligible to borrow from RoSFFF and receive corresponding EU grants, the facility was not in fact used by block associations. Only small and medium-sized companies (SMEs) used the RoSEFF.
Manufacturers of energy efficiency and renewable energy technologies
- Manufacturers of energy efficiency and renewable energy technologies that meets RoSEFF eligibility rules submited equipment for inclusion on the List of Eligible Measures and Equipment - LEME.
- SMEs who invested with a RoSEFF credit of up to 250,000 Euro in technologies that appeared on the LEME were automatically eligible to receive a corresponding EU grant.
Suppliers and installers of energy efficiency and renewable energy technologies
- Manufacturer-authorised suppliers and qualified installers of technologies included on the LEME could apply to be included on the List of Equipment Suppliers and Installers - LESI