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eeef Annual Report 2014

Background Cluj Napoca is the second-largest city in Romania, with a population of over 300,000; the public transport is provi- ded by Ratuc, a company held by the City Council of Cluj. Ratuc owns a fleet of over 50 trolley-buses, most of them over 20 years old. Project description The company intends to renew its trol- ley-bus fleet; the project financed by Banca Transilvania consists of repla- cing five old trolley-buses with new Astra trolley-buses. The average elec- tricity consumption of the new trolley- buses is almost 50% lower than the 3.4 KWh/km average electric consump- tion of the existing trolley-buses. The investment is supported by the City Council of Cluj. The project has an economic rationale – increasing the profitability of the company will lead to fewer subsidies from the local budget – but it also has an impor- tant advantage in terms of mitigating climate change. The CO2 e emissions sa- vings will be more than 40%. FLEET MODERNIZATION FOR THE PUBLIC TRANSPORTATION COMPANY IN ONE OF ROMANIA’S LARGEST CITIES Background Founded in 2002, Giroceana srl holds the concession for the public trans- portation in Giroc, a village less than 10 km from Timisoara; the village has around 2,500 inhabitants, many of whom are students who work and study in Timisoara. Project description Public transport in Giroc is highly inefficient and polluting; the company operates six Ikarus buses which are over 20 years old, consume 35l/100 km, and travel 150–200 km/day. The company intended to replace two of its old buses with new ones (Diesel Euro5, Golden Dragon XML6125CL) consuming 25l/100 km, almost 30% less than the old buses. Increasing profitability of the company will lead to fewer subsidies from the local budget. Key figures Disbursement date 09/09/2013 Sub-loan size € 249,605 Annual CO2 Saving 48 (t) CO2 e Annual primary energy savings 198 MWh 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, with the reconstruction of roads and the renovation of sewer networks. Project description Constructii Erbasu is the leader of the association of construction compa- nies that won the tender organised by Bucharest district 6 town hall for the renovation of 273 blocks of flats. Most of the blocks of flats in Romania we- re built between 1950 and 1990 and need insulation and the 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 financed the project by providing a non-recourse factoring li- mit of € 16.0m (€ 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 invest- ment is being financed by the national budget, 50% by the local budget. Banca Taransilvania is continuing to support Constructii Erbasu and the consortium of companies completing building retrofit related works for the Bucharest town hall and is planning to get involved in the third stage of the project. The third stage consists of the retrofitting of 25 buildings which are also situated in Bucharest’s district 6. RETROFIT OF RESIDENTIAL PROPERTY IN BUCHAREST, DISTRICT 6 Key figures Disbursement date 29/11/2013 Sub-loan size € 2,068,965 Annual CO2 Saving 303 (t) CO2 e Annual primary energy savings 1,441 MWh Key figures Disbursement date 13/09/2013 Sub-loan size € 12,635,801 Annual CO2 Saving 15,105 (t) CO2 e Annual primary energy savings 62,220 MWh 2014 Activities Report: Investments 21