An ‘A-rated’ new flat in Romania is just the beginning…

Gospodar individual
Timișoara, Romania
New-build apartment
Investment Size
€77,500 (equivalent)
Energy savings
105kWh/m/year as compared to a typical home in Romania.
High standard of comfort and energy cost savings of about €300 per year.
Global Environment Facility (GEF) and Taiwan International Cooperation and Development Fund (TaiwanICDF)

... I will also choose energy-efficient appliances and gadgets.

I.T. Cloud architect Ovidiu Julean is a first-time buyer of a newly-built apartment on the 3rd (top) floor of a new building in Timișoara, western Romania.

The Energy Performance Certificate shows that the new flat falls into Category ‘A’, with an annual average specific energy consumption of 124.21 kWh/m2. As a result, energy consumption for heating, hot water and lighting is likely to be 46% lower than that of a typical Romanian dwelling. The corresponding financial cost saving is likely to be more than €300 per year.

According to Ovidiu Julean:

‘I am very glad to see that there is so much focus on energy efficiency in the last 5-10 years, not only in developed countries like Romania but throughout the world. I am pleased that there are specialised development programmes like EBRD GEFF that encourage and stimulate people like me to think about and act upon energy efficiency investment opportunities.

In my view, it is not enough only to buy an apartment with an ‘A-rated’ Energy Performance Certificate – as I have done. I have also chosen energy efficient appliances and gadgets for my new home, ranging from the refrigerator to the TV, and installed LED lighting throughout the apartment!

I am also planning to invest in a system to control my heating and cooling from my phone. This idea appeals to me anyway – I like to use tech. – but it probably makes great economic sense also. I don’t yet know how much energy this system will save me, but my instinct is to use technology and controllability to maximise comfort and convenience. This will certainly bring additional monthly energy cost savings too.

To conclude, I consider that the benefits of a GEFF green mortgage from UniCredit Bank to be far more than the obvious benefits of lower interest rates, improved comfort levels and lower monthly energy bills. The GEFF programme has also encouraged me to think harder about the way in which I consume energy, and the impact of that consumption on our planet.’

Energy-saving construction features of the new apartment and energy-consuming equipment provided by the developer include:

  • 25cm Porotherm Robust masonry – thermal resistance (block and mortar only) 1.25 m2K/W
  • Partition walls between two-layer blocks of 12.5 cm thick brick
  • A 10cm polystyrene thermal insulation system
  • PVC sealed double-glazed windows and terrace doors with LowE glass and Argon gas
  • An energy-efficient 24kW Viessmann condensing gas boiler with copper fittings, aluminium radiators with thermostatic valves.

A Green Mortgage was offered to the client by UniCredit Bank as a Participating Financial Institution in the EBRD Green Economy Financing Facility in Romania.

According to Sorin Dragulin, Products & Segments Director, UniCredit Bank:

‘At UniCredit Bank we have the aim of helping our clients in achieving the things that really matters to them. In this this context, becoming a Participating Financial Institution in the EBRD Green Economy Financing Facility was a natural decision, as this helps us in supporting our clients to achieve a greener lifestyle and to capture the financial benefits of living in a low-energy home and, in the same time, to contribute to a fast transition to a green economy in Romania.’

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 UniCredit Bank 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: