Purpose of the loan
Financing of investment costs in relation to acquisition/building of long-term material assets for the purpose of improving the energy efficiency or the production of energy from renewable energy sources;
Term of the loan
By agreement with the borrower, in compliance with the Internal Rules for Lending of UniCredit Bulbank, at least 2 years, maximum 10 years.
Currency
EUR or the equivalent in ВGN
Amount
By agreement with the borrower in compliance with the Internal Rules for Lending of UniCredit Bulbank
Downpayment
As agreed with the borrower, in compliance with the Internal Rules for lending of UniCredit Bulbank
Drawdown
As per agreement with the borrower in accordance with the Internal Rules on Lending of UniCredit Bulbank
Repayment
As per repayment schedule agreed in the loan agreement.
Grace period for the principal
Under agreement with the borrower in compliance with the Internal rules for lending of UniCredit Bulbank
Interest rate
The loan accrues interest as per the interest rate model established in the General Terms and Conditions of UniCredit Bulbank for granting loans to entities carrying out business activities (in Bulgarian)
Fees and commissions
As per The TARIFF for fees and commissions of UniCredit Bulbank applicable to legal entities and sole traders
Collateral
The loan may be secured with assets of the borrower or third persons, including real estate, chattels, cash, valuables, securities, mutual funds, receivables from third persons, etc., prepared as per the statutory form and procedure.
Property insurance of the collateral is required.
Discounts
For holders of package programs of the Bank.
Project eligibility requirements and Restrictive conditions
Requirements:
1. Eligibility criteria of the financed projects:
- The investment projects must improve the rational energy utilization in the Republic of Bulgaria.
- Minimum internal return rate of the investment project: 10%;
- The investment projects must comply to EBRD's rules for environment protection.
2. Eligibility criteria for the investment projects for industrial energy efficiency
The investment projects are directed at equipment, systems and processes leading to reduction with a minimum of 20% of the initial energy consumption and/or final consumption of electricity and/or fuels and/иor other energy related to the use of electricity and/or fuels.
The eligible projects include energy efficiency measures for restructuring, improvement and modernization of energy-consuming industrial enterprises.
3. Requirements to the investment projects for energy production from renewable energy sources
Admissible projects are:
- Investment in new hydro-electrical or channel hydro-power stations (HPS) under 10 MW. Investments in used hydro-electrical or improvements of existing ones is not admissible;
- Investments in new or used wind-generators with installed capacity under 5 MW;
- Investment in the project for biomass with installed capacity under 5 MW output power for electricity;
- Thermal solar panels (for water heating);
- Geothermal;
- Biogas.
Restriction conditions:
The loan may not be provided and used for:
- Refinancing of existing liabilities of the borrower;
- Investments in new buildings, constructed under new national standards for energy efficiency (certified/commissioned after 1 January 2005);
- Purchase of land;
- Investments in real estate, if the purpose is only to achieve short-term or mid-term profit from follow-up sale;
- Financing of enterprises dealing with production, marketing, distribution (or similar activities) of tobacco products, hard liquor, alcohol, games of chance, weapons and other activities.
The investment project cannot use another grant aid program provided by the European Commission.
