Loan with a Climate. Bank Ochrony Środowiska (BOŚ)
Bank Ochrony Środowiska S.A. is a leading financial institution that specialises in the financing of various environmental protection investments, e.g. water protection, air protection or land surface protection. Together with KfW, the bank has prepared subsidised loans under the following two programmes:
- Programme for energy efficiency in buildings;
- Boiler modernisation programme.
The most important conditions for both programmes are as follows: an investment applying for such a loan cannot be supported from public funds (e.g. National and Voivodship Funds for Environmental Protection and Water Management, Thermo-modernisation and Renovation Fund). Loans are provided for up to 10 years, depending on the investment’s implementation period and the client’s credit rating (a standard investment loan is granted for 5-8 years). Moreover:
- Minimum financing period: four years;
- Currency: PLN, €;
- Decreased minimum own contribution: 15% of the credited investment’s value (usually 20-25%);
- Grace period for capital repayment: up to two years;
- Loan repayment: in monthly or quarterly instalments.
The programmes offer attractive front-end fees of 0.75% (when usually such a fee amounts to 1.5%) and a 0% commitment fee (usually it is 1.5%).
Loans of up to €500,000 are available through a Loan with a Climate initiative, within the Programme for energy efficiency in buildings, for: local government units and their associations, municipal companies, private enterprises (in the micro and SME sector), large enterprises, enterprises in the form of cooperatives, housing associations, natural persons and foundations. Types of projects eligible for support include: thermal insulation of building elevations (thermal insulation of walls, roof, cellar; replacement of old window and door joinery), replacement of a local heat source with a connection to the heat distribution network, insulation of a heat distribution network connected with a local heat source supplying heat to buildings through this network, installation of solar collectors and heat pumps.
Loans for boiler modernisation of up to €1m are available for local government units and their associations, municipal companies, private enterprises (in the micro and SME sector). Possible investments include: installation of boiler economisers, installation of burners with flexible air supply control, grate replacement and introduction of gas burners, boiler replacement with or without fuel change.
The organisations that participate to these programmes are obliged to: present information about the state of play prior to and after the investment to enable calculation of CO2 emission reduction (e.g.: technical data for the installation, energy performance of a single family house, fuel consumption, energy audit), provide access to the investment for monitoring purposes and inform about all breakdowns increasing CO2 emissions. In return, the bank offers not only the above-mentioned loans, but also annual emission reduction certificates, based on the emission reduction monitoring reports verified by an independent accredited unit.
Development in this field is hindered by barriers such as a high technological risk related to innovations and a lack of institutions that would lower this risk, e.g. a state guarantee fund or difficulties with joining many smaller subjects into one large project that would allow for achieving more considerable emission reductions. On the other hand, the fact that there are many smaller organisations that could lower their emissions but individually are not able to do this constitutes an opportunity for development. The result of international post-Kyoto climate negotiations will also play a significant role for development in this area. If the current mechanism is prolonged over to the post-2012 period, there will be more opportunities for application of the above solutions.
Further Information http://www.bosbank.pl/
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