A sustainable apartment building inspired by the Black Sea waves

Eco Furaj Limited
Varna, Bulgaria
Air to water heat pumps; underfloor heating and cooling; warm/cold air fan convectors; energy efficient lifts; thermal insulation; doors and windows.
Investment Size
€ 1,000,000
Financial results
Payback of 6.5 years
Energy savings
1,170,000 kWh per year
CO2 savings
799,110 kg per year
Reduced energy bills; improved living comfort; better internal air quality; improved sound insulation.

Construction of an energy efficient block of flats in Bulgaria

VarnaWave apartments, a new build apartment building is situated in a corner plot, facing two intersecting streets in the heart of the port city of Varna. It has 9 over ground floors and 2 underground floors, providing the parking in the building. The ground floor is intended for public service, including a bistro, a shop and offices. The other eight floors are residential, divided into three main entrances with two apartments per floor.

Under the initial design, the building achieved energy performance rating of B grade with a specific annual primary energy consumption of 186 kWh/m2. Following the recommendations of the REECL team, a wide range of energy efficiency technologies were considered and finally implemented by the developer. This led to an increase in the energy performance rating of the buildings to a high A grade, with a specific annual primary energy consumption of 69 kWh/m2

VarnaWave apartments is the first housing development project of Eco Furaj Limited, and so the developers wanted to create a landmark building that can be defined in three words – aesthetic, functional and sustainable. Their bankers, Pireaus Bank, directed them to the REECL consultants to discuss REECL sustainable energy financing options.

The owner wanted to start a new trend in housing construction in Varna, in which the focus was on the clients and their needs for a comfortable living environment at low operational costs. The REECL loan was an effective vehicle that made it possible to implement a number of sustainable energy technologies to achieve high energy performance of the apartment building.

The REECL team developed a detailed energy model and carried out a comprehensive energy analysis; reviewed all the design documentation and energy performance certificates; consulted the developers on design changes that could lead to an increase in the  building energy performance; liaised  with the developer’s consultants and co-ordinating their work in implementing the required design changes; conducted regular site visits; and final site verification  to ensure the completed building met all the REECL eligibility criteria.  The Kozloduy International Decommissioning Support Fund (KIDSF) supported the project by providing investment incentives and technical assistance.

The project costs financed by the REECL Facility were €1,000,000 making it possible to complete the building to very high-energy performance standards.

The new house led to a reduction of the CO2 emissions by 799,110 kg per year, making a valuable input towards Bulgaria efforts to achieve emission targets.

Mr. Pnayotov, owner of Eco Furaj Limited, expressed his gratitude to the REECL Programme for helping them achieve their goal to build an apartment building with modern aesthetic, innovative materials and sustainable energy solutions, combined with comfortable living at low operational costs.

REECL Facility in Bulgaria is part of the GEFF programme and was developed by the European Bank for Reconstruction and Development (EBRD) and is supported by the Kozloduy International Decommissioning Support Fund (KIDSF).