Turseff Credits

TURSEFF is a credit line for industrial companies, commercial enterprises and private households that wish to invest in energy efficiency or renewable energy projects. The credit line was developed by the EBRD and credits are disbursed through partner banks. Depending on the type of applicant, borrowers may be eligible for up to US$ 5 million of financing under TURSEFF to help the borrower implement projects that include a substantial energy efficiency component. Other project components may be financed by the customer himself or by the participating local bank. Borrowers must be financially viable and meet the Partner Bank’s credit criteria and be approved in accordance with the Partner Bank’s credit appraisal procedures. Projects financed under TURSEFF should meet certain performance criteria. Projects relating to energy efficiency measures in industrial and commercial processes should save more than 20% of energy. Projects relating to energy efficiency in the building sector should save more than 30% energy.

TURSEFF was developed for several categories of investments:

1. Residential Energy Efficiency
2. Small Scale Commercial Energy Efficiency
3. Small Scale Renewable Energy
4. Commercial and Industrial Energy Efficiency
5. Buildings Energy Efficiency and Renewable Energy
6. Manufacturers, suppliers and installers of energy efficiency and renewable energy technology, equipment and materials

The maximum individual loan categories are defined as follows :

• USD 5 million for Energy Efficiency, Renewable Energy and Commercial Buildings projects
• USD 300,000 for Small Scale projects
• USD 75,000 for Residential Sector projects
• USD 1 million for investment loans to Energy Efficiency Suppliers

Loans exceeding these amounts will be considered on a case by case basis and financed only following approval from EBRD.

The proceeds of a loan may be used to finance up to 100% of the total Investment Cost of a project.