Release date: 1 June 2018
Promoter – Financial Intermediary
MUNICIPIUL BUCURESTI - SECTORUL 2Location
Description
The project consists of the financing of the 3rd phase of Bucharest Sector 2's thermal rehabilitation programme to improve energy efficiency in 400 residential buildings located in Bucharest Sector 2. This project falls under the Smart Finance for Smart Buildings ("SFSB") Initiative, a joint initiative of the EIB Group and the European Commission (EC) aiming at supporting Energy Efficiency investments in buildings.
Objectives
This investment concerns the third phase of the refurbishment programme of multi-family housing in the municipality of Sector 2 in Bucharest and it will contribute to the SFSB (Smart Finance for Smart Buildings) initiative. Approximately 400 buildings shall be refurbished. The project will focus on thermal energy efficiency improvements of the building envelope (wall insulation, windows, roofs and cellar insulation) as well as optimisation of the heating systems.
Sector(s)
- Industry - Construction
Proposed EIB finance (Approximate amount)
EUR 62 million
Total cost (Approximate amount)
EUR 99 million
Environmental aspects
This operation intends to bring environmental benefits by supporting measures, which reduce energy consumption, and help to 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 as well as Directives 89/665/EEC and 92/13/EEC), which may include publication in the OJEU where appropriate.
Status
Signed - 4/10/2019
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).