The Energy Efficiency Fund was established on February 18, 2015 by the Ministry of Finance, the Ministry of Energy and Public Investment Development Agency of Lithuania. The Public Investment Development Agency (VIPA) is the manager of the Fund.
The Fund implements two financial instruments:
- loans for financing renovation of central government buildings;
- guarantees for loans granted by commercial banks for street lighting modernisation projects.
The implementation of these financial instruments will promote energy service companies (hereinafter - ESCO)* market in Lithuania. Commercial banks will also be encouraged to participate in energy efficiency projects as financing bodies.
The fund will manage 79,645,505€ from which up to 65,164,504€ will be provided for the modernisation of central government buildings and up to 14,481,001€ for street lighting modernisation projects. Due to loans and guarantees financial instruments more projects will be financed from later returned funds that will be re-invested in new energy efficiency projects.
The Energy Efficiency Fund is planned to operate until at least 2030.
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*The terms and conditions of negotiated procedure with publication of a contract notice for supply of energy saving services to public buildings can be download from here.