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eeef Annual Report 2015

Banca Transilvania Spring Cluj-Napoca Bucharest This value represents annual savings for all BT's sub-projects 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 26 September 2013 Maturity 10 years Estimated tCO2 e emission savings (p.a.) 26,426 Project Profile The 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 by the public sector in Romania. It is the first cooperation between the eeef and a financial institution and also it is first investment in Eastern Europe. The eeef is supporting BT in sourc- ing and evaluating underlying projects where need- ed. BT is ensuring that the financed projects comply with the eeef’s requirements with respect to a CO2 e emission/primary energy consumption reduction of at least 20%. Furthermore, the eeef can jointly finance projects with BT if larger financing amounts are required. At the end of 2015, BT has completed the financ- ing of seven projects, three of which are covered in detail within the Project Highlights section. The cu- mulative savings of the projects implemented up to the end of 2015 are 41,296 in tCO2 e emissions and 171,751 MWh in primary energy savings. Project Highlights In BT, the eeef has gained a strong local partner with a history of financing several energy effi- ciency projects and which has a solid footprint in financing small and medium-sized enterprises (SMEs). BT is the 3rd-largest Romanian bank by assets. This cooperation will help to strengthen the Romanian banking sector by providing financing to energy ef- ficiency and smaller-scale renewable energy pro- jects, primarily through the provision of financing 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 2015 under the eeef‘s subordinated debt facility BT’s projects include public transportation, build- ing retrofitting and street lighting on-lending over €21.0m from the eeef facility. The following high- light three projects from BT‘s eeef portfolio: 22 eeef Annual Report 2015