International funds in function of finansing projects of the renewable energy sources in Serbia26. July 2013. / News Serbia Energy
Positive results of the renewable energy sources usage witness on need of the investing in projects for these sources usage. In Serbia, extremely large potential for energy efficiency was noticed with both consumers and the state.
It is necessary to create conditions in which energy sector, together with agricultural sector would be the driving force of our economy. For the realization of large investment projects of wider importance in the Republic of Serbia, significant foreign funds are necessary, but large external debt limits the possibilities of the direct indebtedness of the State. International financing of a number of priority infrastructure and other investment targets would enable their construction without greater indebtedness of the State, because the real estate of the project would be guarantor for the loan.
According to the estimation of the experts, potential that we have on our disposal, if we are talking about renewable energy sources, equals half of the energy spent during one year. At the moment, the most attractive investments are those invested in the biomass, having in mind the price of the kilowatt- hour generated in the biomass plants, but there are still huge hydro-energy potentials of our rivers and inexhaustible sun energy in the southern part of the country. With the development of this sector, the coal consumption, as the biggest pollutant, as well as consumption of oil and natural gas, would decrease. There are some credit lines in the Republic of Serbia that are reserved for small and medium enterprises for conducting projects in the field of energy efficiency and renewable energy sources.
Credit line WeBSEDFF (Western Balkans Sustainable Energy Direct Financing Facility) is made of credit lines that provide funds for Banks participants for further crediting of the Companies in the Western Balkans countries. The funds of this line include up to 100 million EUR and 21.5 million Euros funds for technical cooperation and supporting funds. This line is intended for local small and medium enterprises or investors that would like to invest in measures aimed to increase energy efficiency in the industry or in the projects for using renewable energy sources.Through this credit line project regarding renewable energy sources, industrial energy efficiency, and usage of the waste heat out of technological process and ESCO projects could be financed.
Another credit line is carbon financing that implies funds that finance projects that are related to reduction of greenhouse gasses emission in comparison with the level that would be present without these activities. The project becomes qualified for CDM (Clean Development Mechanism) if it fulfills the additionally requirement, i.e. when by its implementation the level of emission is reduced above the level that would occur without the realization of this project.
Global Environmental Facility- GEF Fund is the fund to which states have the access through authorized agencies. It stimulates the sustainable use of biomass in energy purposes with the aim of reduction of greenhouse gasses. The necessary precondition in order for GEF to approve the funds is co-financing , i.e. financing of the activities that lead to the same goals as the project for which financing is required, and that as a sum must significantly exceed the amount of funds required by GEF.
Different types of credit lines are provided by German Development Bank KfW for the Companies and other private persons that support projects form the renewable energy sources field. Project documents must show that project will have as a result decrease of 20 percent in the energy production and in the greenhouse gasses emissions.
Another credit line is provided by European Investment Bank that in the year 2009 approved the loan to Serbia in the amount of 250 million EUR. The funds of this credit line are intended for financing the infrastructure projects of local self-government, as well as investments of any scope in the field of education, health, energy and environmental protection.
The above mentioned credit lines are intended above all to be used by private economic actors, but state government can have certain role in the process of its creation and usage.
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