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Download uzbekistan pilot energy efficiency fund for industry
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INOVATIVE FINANCING FOR EE AND RES PROJECTS EXPERIENCE FROM WESTERN BALKAN AND UZBEKISTAN NENAD PAVLOVIC SOUTH EAST EUROPE CONSULTANTS (SEEC) BELGRADE, SERBIA BERLIN, 7 MAY 2010 Major framework conditions Western Balkan countries • • • • • • • • • Energy Policy & Strategy Secondary legislation Feed In Tariffs Energy carrier prices Primary energy resources Financial IEE schemes Privatization Service market EE product market Yes Yes/No, but mostly not in place Yes, mostly Almost/Cost reflective Poor Yes, available Mostly done Not enough developed, TA needed Developed Uzbekistan • • • • • • • • • Energy Policy & Strategy Secondary legislation Feed In Tariffs Energy carrier prices Primary energy resources Financial IEE schemes Privatization Service market EE product market No Not in place No No cost reflective (Gas only 50 US$/1000 m3) Gas, huge reserves In preparation Not completed Not enough developed, TA needed Developing Energy Efficiency in Public Buildings (SER, MNE; WB) Social monitoring Technical monitoring Evaluation & Reporting ‘BEFORE’ РАДОВИ Monthly Total Demand for Combined Zones in Odzaci.bso 70 60 50 40 Demand (MWh) 30 20 10 0 1 2 3 4 5 6 7 Month 8 9 10 11 12 Heating loads Humidify loads Cooling loads Dehumidify loads Internal gains Solar gains ‘AFTER’ Social monitoring АНКЕТА МЕРЕЊА Technical monitoring Traditional Credit Lines (EBRD, KfW, IFC, etc.) IFI Contract Project Consultant Loan Agreement € € Local bank € Incentive Payment* Contract Verification consultant € Borrower • IFIs do not want to destroy local financial market • Typically hire project and verification consultant • Credit conditions are similar at the local commercial market with some benefits (longer maturity or grace period, for instance) WeBSEDFF (EBRD) – http://websedff.com EBRD Donor Funded Contract Loan Agreement Project Consultant € € Borrower Incentive Payment* Donor Funded Contract Verification consultant • Incentive payments will be paid upon technical completion of the investments to eligible Borrowers • CO2-based Incentive Payments • IP = CO2 emissions avoided per year x Price per ton of CO2 x Annuity factor (depending on discount rate and number of years over which CO2 emissions reductions will be remunerated UZEEF – Industry, M 25 US$ World Bank Financing Agreement Project Agreements Republic of Uzbekistan MoE Subsidiary Credit Agreements Asaka Bank Uzpromstroi Bank Sub-Loan Agreements Hamkor Bank Sub-Loan Agreements Industrial Enterprises (IEs) Jumping vs. gradual increase of EE $ At present EE POTENTIAL JUMP to TARGET $ $ $ Local BAT $ World BAT 0 1 2 3 4 5 YEAR Challenges Outdated and life spent of both production and energy technologies Large technical potential for EE improvement Energy carrier prices not cost reflective – smaller market potential Difficult to make distinction between IEE vs. refurbishment, replacement, production extension - misunderstandings Faster EE product penetration than development of new services Commercial banks still treats these markets as high risks area -> expensive loans – TA for development of new product ‘IEE loan’ Privatization ongoing – focus on renewal of physical production, not on energy and IEE; faster development of service market – TA needed! Oversized capacities – real challenge how to structure the approach Demand Side Management in factories – demand is high ! Training of consultants (EA, BP, BAT, etc.) – demand is high Thank you for your attention QUESTIONS & UNSWERS
