Lower energy bills for Moldovan residents

Stefanecu Com SRL, a property developer
Chișinău, Moldova
Energy efficient windows, thermal insulation, upgraded heating and ventilation systems
Investment Size
Financial results
Payback period 7.5 years; cost savings €16,501 per year
Energy savings
180MWh per year
Improved living conditions, reduced energy bills
EU NIF, Sweden

Investing in energy efficiency of residential buildings allows more comfort for residents at lower energy costs

Property developer Dimitru Rusu of Stefanu Com planned to rehabilitate an old typical Soviet communal building dating back to the ‘60s in exchange for a permit to extend the building and add new flats on top of it.

To increase the energy perfromance of the building, it was decided to install the new energy efficient windows and doors, insulate the walls and roof of the building, build new ventilation ducts and upgrade the ventilation and heating system.

The company addressed MoREEFF and its participating bank for financing of this project.

The MoREEFF  team supported the company with analysis of the proposed technologies, the potential of energy savings and financial-technical parameters of the project.

The €123,317 investment resulted in a reduction in the energy consumption of the building by an estimated 160 MWh per year, which is equal to €16,501 of cost savings. This means the investment will be repaid out of energy savings in seven and a half years, which is a short period for such projects.

The residents will feel the result of the investment immediately thanks to the reduced energy bill and improved living conditions. “It is better, it is warmer and it is prettier” said Olga, who has lived in the building for many years.

Other companies in Chișinău have started to use this project as an example for redeveloping buildings in the capital and elsewhere in the country” Mr. Rusu explained. “This will help us produce nicer looking, more comfortable and more energy efficient flats and homes.”

Through MoREEFF, the EBRD supports the sustainable financing and implementation of energy efficiency projects by the residential sector. Together, the residential, private and public sectors can make a change in energy consumption patterns and contribute to environmental protection.