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eeef Annual Report 2013

Background Cluj Napoca is the second-largest town in Romania, with a population of over 300,000; the public transport is provided by Ratuc, a company held by the City Council of Cluj. Ratuc owns a fleet of over 50 trolleys, most of them over 20 years old. Project description The company intends to renew its trolley fleet, the project financed by Banca Transilvania consists of repla- cing five old trolleys with new Astra trolleys. The average electric con- sumption of the new trolleys is almost 50% lower than the 3.4 kwh/km average electric consumption of the existing trolleys. The investment is supported by the Ci- ty Council of Cluj. The project has a economic rationale – increasing profitability of the company will lead to fewer subsidies from the local budget) but also has an important advantage in terms of mitigating climate change. The CO2 emissions savings will be over 40%. Key figures Disbursement date 29/11/2013 Sub-loan size € 2,016,000 Annual CO2 saving 46% FLEET MODERNIZATION FOR THE PUBLIC TRANSPORTATION COMPANY IN ONE OF ROMANIA’S LARGEST TOWNS Background Founded in 2002, Giroceana srl holds the concession of the public trans- portation in Giroc, a village less than 10km from Timisoara; the village has around 2,500 inhabitants, most of them working and studying in Timisoara. Project description Public transport in Giroc is highly inefficient and polluting; the company operates six Ikarus buses older than 20 years, which consume 35l/km and travel 150–200km/day. The company intended to replace two of its old buses with new ones (Diesel Euro5, Golden Dragon XML6125CL) consuming 25 l/km, almost 30% less than the old buses. Besides the economic rationale of the project – increasing profitability of the company will lead to fewer subsidies from the local budget – there is an important impact on the environment. It is estimated that the annual CO2 savings will be over 40%. Key figures Disbursement date 09/09/2013 Sub-loan size € 243,206 Annual CO2 saving 47% FLEET RENEWAL OF A PUBLIC TRANSPORTATION COMPANY IN A SMALL ROMANIAN COMMUNITY Background Constructii Erbasu is one of the main Romanian construction companies, founded in 1991, with expertise in the construction of residential as well as industrial buildings. The company also has a good track-record in the municipal sector, such as reconstruction of roads and renovation of sewer networks. Project description Constructii Erbasu is the leader of the association of construction companies that have won the tender organised by Bucharest district 6 town hall for the re- novation of 300 blocks of flats. Most of the blocks of flats in Romania were built between 1950 and 1990 and need in- sulation and replacement of doors and windows. The thermal rehabilitation includes solutions for the exterior walls, the exterior joints and balconies as well as for the floor above the basement and the terrace.Banca Transilvania has financed the project by providing a non recourse factoring limit of € 16m (€12.6m under the eeef facility): Bucharest town hall, district 6, one of the biggest Romanian town halls with a good financial standing, is the assigned debtor. 50% of the investment will be financed by the national budget, 50% by the local budget. Key figures Disbursement date 13/09/2013 Sub-loan size € 12,635,801 Annual CO2 saving 81% RETROFIT OF RESIDENTIAL FLATS BLOCKS IN BUCHAREST, DISTRICT 6 2013 Activities Report: Investments 19