Portugal: The EU bank provides up to EUR 100 million to co-finance the ‘Casa Eficiente 2020’ programme promoted by the Portuguese Government

• The Efficient Private Housing Programme (Casa Eficiente 2020) is promoted by the Portuguese Government to finance investment in energy and water savings.
• This EIB loan will benefit individuals and small and medium-sized enterprises (SMEs) willing to improve the energy efficiency, water and/or waste management systems of their houses by financing investments.
• The facility will be channelled through financial intermediaries: Caixa Geral de Depósitos S.A (CGD), Millennium bcp (BCP) and Novo Banco have signed finance contracts for the Casa Eficiente 2020 initiative worth EUR 30 million, EUR 25 million and EUR 15 million respectively.
• The loans are part of the Smart Finance for Smart Buildings Initiative, a joint programme of the EIB Group and the European Commission aimed at supporting energy efficiency investments in buildings.

The European Investment Bank (EIB) is providing a loan of up to EUR 100 million to co-finance projects under the Casa Eficiente 2020 programme, promoted by the Portuguese Republic to support investments of individuals and small companies implementing residential energy and water efficiency refurbishments schemes. EIB Vice-President Andrew McDowell and the Portuguese Ministers of the Environment and of Planning and Infrastructure attended the signing ceremony in Lisbon today. The finance contracts for the remaining amount under this operation (EUR 30 million) are envisaged to be signed shortly with other Portuguese financial intermediaries.

The funds will be channelled through Portuguese banks that will provide an additional amount equivalent to the EIB lending. Therefore, the total financing to support this energy efficiency programme will reach EUR 200 million. The EU bank will provide loans of EUR 30 million to CGD, EUR 25 million to BCP and EUR 15 million to Novo Banco. Citizens and SMEs interested in improving the energy efficiency of houses they own, rent or have the right to refurbish, should submit their projects to these financial intermediaries through the Casa Eficiente 2020 web portal. The portal will provide them with an indicative budget of the investment amount needed and an estimation of the savings generated by implementing the energy efficiency scheme.

Banks may finance projects that include schemes in buildings such as the installation of new ventilation, lighting and shell systems, small renewable energy facilities for self-consumption, and water efficiency improvements including rainwater harvesting systems. The programme will also facilitate the acquisition of energy efficient appliances complying with best available technologies, which will be financed at the rate of up to 15% of the total acceptable investment.

The Efficient Private Housing Programme (Casa Eficiente 2020) is promoted by the Portuguese Government to finance investments in energy and water savings, fostering the switch to renewable energy resources and the reduction of pollutant emissions. By providing a loan of up to EUR 100 million to support this programme, the EIB is contributing to the implementation of the EU climate change mitigation and adaptation policy. Furthermore, the EIB is financing this project under the Smart Finance for Smart Buildings Initiative implemented by the EIB Group and the European Commission to enhance energy efficiency investment in buildings.

At the ceremony held today in Lisbon, EIB Vice-President Andrew McDowell stated: “As the EU bank, we are pleased to support the signatures today, on favourable terms that demonstrate the EIB’s strong commitment to fight against climate change, one of our priority objectives. Increasing the use of energy efficiency in private housing will contribute towards lower energy needs and reduce CO₂ emissions in Portugal as well as supporting key EU environment objectives. By financing this programme, we are not only helping to improve the environment but also people’s lives.”

The Portuguese Minister of the Environment João Pedro Matos Fernandes stated: “The Portuguese Government is highly satisfied with the completion of the Casa Eficiente 2020 Programme that we are proudly presenting today. Resulting from private and public cooperation, this programme commits both the EIB and national financial partners to decarbonisation and urban rehabilitation. The key objectives of Portuguese public policies, decarbonisation and urban rehabilitation are now within the reach of individuals and small companies nationwide.”

The Portuguese Minister of Planning and Infrastructure Pedro Marques stated: “The Casa Eficiente 2020 programme is truly innovative, bringing together economic sector players, specialised State-owned companies and national and international financial entities. It should be highlighted that the Casa Eficiente 2020 Programme has been structured through very close cooperation with the sector’s players in order to achieve an effective impact in the field and comply with the real needs of individuals and small and medium-sized enterprises.”