TuREEFF (Turkish Residential Energy Efficiency Financing Facility)
Key information:
Turkish Residential Energy Efficiency Financing Facility (TuREEFF) has successfully closed as of end of May 2021.
Turkish Residential Energy Efficiency Financing Facility was developed by the EBRD and supported by the Clean Technology Fund (CTF) and the EU (European Union) for financing energy efficiency investments at a residential level.
TuREEFF comprised of US$ 300 million funding combining EBRD commercial loan with a limited amount of donor-funded concessional funding by the CTF. The Facility was complemented with a donor-funded comprehensive technical assistance programme by EU.
The funding was available to Partner Banks for on lending to private sector residential stakeholders, including homeowners, construction SMEs and vendors of high energy efficient appliances and materials.
Loans were provided by 4 partner banks: Garanti BBVA, Şekerbank, Türkiye İs Bankası and Yapı ve Kredi Bankası.
Loan categories of the Facility included;
Small investments for more energy efficient houses: Residential level energy efficiency and renewable energy technologies were financed through consumer loans for individuals and commercial loans for vendors. TuREEFF financed 2,058 number of small investment projects with US$ 110 million. As a result, 50,818,827 kWh/year primary energy was saved and 10,544 tonnes CO2 emission reduction was achieved.
Assisted Investment Category: Sustainable energy measures were supported with the goal of improving the energy performance of the existing buildings. Reconstruction of demolished buildings, under the Urban Transformation Plan of the government, and new building projects with B or above energy performance classes were also supported. 396 number of assisted investment projects were financed with US$ 28 million. 9,205,554 kWh/year primary energy was saved and 2,602 tonnes CO2 emission reduction was achieved.
Mortgages of buildings with B or above energy classes were supported. TuREEFF financed 3,292 number of mortgages with US$ 158 million and saved 3,746,733 kWh/year primary energy. Also 996 tonnes CO2 emission reduction was achieved under this category.
Technical Assistance of the Facility included project assessment, capacity building activities for construction SMEs, occupational health and safety checks of projects, training and capacity building activities for the partner banks, organising and participating seminars, workshops and trainings in cooperation with several stakeholders for raising an awareness on the residential level energy efficiency concept. Throughout the Facility’s implementation period, 65 events were organised/participated.
During the implementation stage of the Facility, a successful policy dialogue process with the Ministry of Environment and Urbanization was also completed. The process that started in May
2015 resulted in the amendment of the existing regulation granting exemption rights in obtaining permits for implementation of energy efficiency and solar based renewable energy measures in existing buildings.
A Gender Assessment of the Facility was also conducted in order to understand supply and demand factors influencing household access to and use of finance for building level energy efficiency improvements and home appliances in order to improve effectiveness of TuREEFF, namely by increasing uptake of EE financial products, through a better understanding of women’s and men’s role in household energy management and financing.
The study was supported by CTF and the final report of the study was published on the following website.
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