An uptown family apartment in Prahova, Romania…
Investor
Gospodar individual
Location
Ploieşti, Prahova County, Romania
Investment
New-build apartment
Investment Size
Range €90,000 - €120,000
Energy savings
28.8 MWH/year vs. a typical apartment of a similar size
Impact
High standard of comfort and energy cost savings of about €800 per year.s
Donor
Global Environment Facility (GEF) and Taiwan International Cooperation and Development Fund (TaiwanICDF)
… uses 59% less energy than a typical home.
When the Nicolae family was looking for a new-build, three-room apartment in uptown Ploieşti, Romania, green living was firmly on the household agenda.
The family finally selected an apartment that consumes only 123 kWh/m2/year on heating, hot water, lighting and cooling, according to its Energy Performance Certificate. This level of energy uses is 59% lower than 299 kWh/m2/year consumption of a typical Romanian dwelling with the same energy services. As a result, electricity and gas bills are likely to be about €800/year lower than a typical flat of a similar size with the same energy services.
According to Valentin Nicolae:
‘This apartment appealed to us as it ‘ticks three boxes’ – comfort, economy and environment. Thermal insulation and high-performing heating and air conditioning equipment mean we can expect comfortable temperatures for the family, all year round. Considering the high quality of materials and performance of equipment used, gas and electricity costs are expected to be much lower than an ordinary apartment. And – by investing in an energy-saving home – we are making our own small contribution to combating climate change.’
Banca Transilvania provided a green mortgage within the framework of the Green Economy Financing Facility (GEFF). According to Product Manager Robert Szilagyi:
‘We are delighted to have the opportunity to offer our customers green products that have a direct impact on reducing energy consumption. Green credits from BT are products that help customers from a financial perspective, thanks to attractive interest rates, while encouraging modern, energy-efficient investments that help protect the environment’.
Tractebel Engineering, the GEFF Facility Consultant, supported the investment with a written Assessment, confirming technical eligibility of the proposed mortgage to be financed using the facility.
The Green Economy Financing Facility is an initiative of the European Bank for Reconstruction and Development (EBRD). GEFFs combine technical knowledge with finance to help clients of participating financial institutions like Banca Transilvania to invest in high-performing technologies. So far, EBRD provided almost €4.2 billion of financing through 130 local financial institutions in 24 countries through GEFF.
For more information about GEFF in Romania, please visit: