PolSEFF - Polish Sustainable Energy Financing Facility
PolSEFF is a Polish Sustainable Energy Financing Facility with a credit line of EUR 150 million. The offer of PolSEFF is addressed to small and medium-size enterprises (SMEs) interested in investments in new technologies and equipment decreasing energy consumption or generating energy from renewable sources.
Application of new, energy-efficient technologies and use of energy from renewable sources may help decrease energy costs by as much as 30%. Savings on this level increase profits, raise competitiveness, as well as contribute to increase in both quality of production and production capacity. In order to facilitate investments of this type, the European Bank for Reconstruction and Development (EBRD) made available funds in the amount of EUR 150 million. These funds will be distributed by local banks and lease companies participating in PolSEFF. Financing can be obtained in the form a credit facility or lease up the amount of EUR 1 million. Projects implemented within the scope of PolSEFF may be divided into four groups of investments:
• investment projects enabling to obtain at least 20% of savings;
• investment projects increasing efficiency of energy use in buildings - investments in renewable sources of energy and devices increasing efficiency of its use, which allow for decrease in energy consumption in commercial buildings and administrative buildings of SMEs by 30%;
• investments in renewable energy – investments in renewable energy sources;
• investments in selected technologies - investments in projects and devices selected from the list of technologies with high efficiency.
Apart from financing of technologies decreasing energy consumption, PolSEFF also offers entrepreneurs free-of-charge counselling with respect to selection of investments. Furthermore, within the scope of PolSEFF, it is possible to obtain an investment bonus in the amount of 10% of total investment cost, thanks to the European Union's policy of encouraging reduction in GHG emission which is harmful for the environment.
Barriers and Drivers
Increase in energy prices and legal regulations regarding improvement of energy efficiency and development of renewable energy sources will be a driving force for using this line of financial support.
Decrease in costs related to purchase of energy will contribute to improvement of financial standing of SMEs. Increase of interest in renewable energy sources will contribute to development of their market.
Activities related to implementation of projects serving improvement of energy efficiency and development of renewable energy sources will contribute to increase in green workplaces.
First of all, the impact on the environment will be a limited emission of GHG due to the fact that 90% of Poland's electric energy is produced from coal.