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eeef Annual Report 2014

Key figures Country Romania Sector Energy Efficiency/ Renewable EnergyRenewable Energy Type of investment Subordinated debt Total project size (¤ m) 25.0 eeef investment size (€ m) 25.0 Financial Close 27 September 2013 Maturity 10 years Observed (t) CO2 e emission savings (p.a.) 15,456 Banca Transilvania Project Profile eeef provided a refinancing facility to Banca Transilvania (BT), one of the leading banks in Romania, for a green on-lending programme to support energy efficiency and renewable energy investments of the public sector in Romania. It is the first cooperation by eeef with a financial institution and also its first investment in Eastern Europe. eeefissupporting BT in sourcing and evalua- tingunderlyingprojectswhereneeded.BTisensuring thatthe financed projectscomplywith eeef’srequire- mentswithrespecttoaCO2 eemission/primaryenergy consumptionreductionofatleast20%.Furthermore, eeef can jointly finance projects with BT if larger financing amounts are required. BT has completed the financing of three pro- jects that are covered in detail within the Project Highlights Section. The cumulative savings of the projects implemented up to the end of 2014 are 19,420 (t) in CO2 e emissions and 64,317 MWh in primary energy savings. Project Highlights In BT, eeef has gained a strong local partner with credentials in financing several energy efficien- cy projects, and one which has a strong footprint in financing small and medium sized enterprises (SMEs). BT is the 3rd largest Romanian bank by assets. This co-operation will help to strengthen the Romanian banking sector by providing finance to energy efficiency and smaller-scale renewa- ble energy projects, primarily through the pro- vision of finance to public and private building owners, homeowner/condominium associations and municipalities, public sector entities and private sector companies acting on behalf of the public sector. Banca Transilvania – sub-loans until the end of 2014 under the eeef subordinated debt facility Banca Transivania’s initial projects concern public transportation and building retrofitting, on-lending € 14.9m from the eeef facility. Giroc Cluj Bucharest 20 eeef Annual Report 2014

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