Energy Efficiency and Renewable Energy (EERE) Malta
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Energy Efficiency and Renewable Energy (EERE) Malta

Energy Efficiency and Renewable Energy (EERE) Malta - investing in energy efficiency in both commercial and residential buildings 

The financial instrument is financed under the Operational Programme I – Fostering a competitive and sustainable economy to meet our challenges – 2014-2020.

Background

The Energy Efficiency and Renewable Energy (EERE) Malta Financial Instrument is aimed at making energy efficiency investments in both commercial and residential buildings, more attractive to private investors, through the intelligent use of EU funds as a form of guarantee. The instrument’s  main objective is to provide better access to finance for both private individuals and enterprises through capital relief and loss protection via the provision of a capped guarantee for investments related to the building envelope (e.g. insulation, windows & doors and other thermal performance measures) and investments related to the building system (e.g. domestic hot water, cooling systems, Building and Energy Management Systems).

The need for a Financial Instrument was established following an ex-ante study which confirmed the financing gap in the household and corporate sector in Energy Efficiency (EE) and Renewable Energy (RE) initiatives. The study proposed solutions to maximise the impact of public support though the implementation of a Financial Instrument which could help in filling the financing gap by:​

-      Supporting the credit system in providing resources to EE/RE initiatives by using EU funds as a capped guarantee (e.g. reducing the risk of these transactions);

-         Helping households and enterprises by offering better conditions to access finance for EE/RE

-    Complementing other public support schemes, reducing grant dependency of EE/RE initiatives and therefore maximise the grant impact. 

The instrument is being implemented in collaboration between the Managing Authority and the European Investment Fund. The EERE Financial Instrument is on the market and it is being implemented by two local banks namely, Bank of Valletta plc and APS Bank.

Financial Information

Total Budget: €15M of ERDF financing

EU Co-Financing Rate: 80%  

Managing Authority

Planning and Priorities Coordination Division (PPCD)

Office of the Prime Minister (OPM)

The Oaks Business Centre

Triq Farsons 

Hamrun

Managing Authority Website 

Download

The approved OP and revised version of OPI – Fostering a competitive and sustainable economy to meet our challenges – 2014-2020 may be found here​

The executive summary of the Ex-Ante Assessment of Financial Instrument in Operational Programme I 2014-2020 financed through ERDF may be found here.​​​​​


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