There are several initiatives in Macedonia for enabling finacing of energy efficiency projects. International organizations such as UNECE, WB, EIB, EBRD and US Aid are all supporting energy efficiency projects by either direct leading programs, on-lending programmes to local banks or by providing technical assistance.
To help the industry in finding suitable financing sources for energy efficiency projects, CCEI hired in 2010 the Bred Centre to prepare an overview of current financing programmes in Macedonia. The report concluded that in spite of interest fund allocated and interest among local banks, very few projects had been implemented using available financing programs.
Download the report to get an overview of existing financing sources for energy efficiency projects as of August 2010. Report on financing opportunities for EE projects in Macedonia
In connection with the presentation of the presentation of the projects developed in phase 1 of the energy efficiency component, CCEI invited all relevant stakeholders to a Round Table Discussion under the heading “From analysis to realization – How to realize energy efficiency projects in Macedonian Industry?”. The meeting was hosted by the Macedonian Economic Chamber of Commerce the 2 March 2010, and participants from financial institutions, academia, international organizations, authorities and industry took active part in the discussions and concluded… (read more)
that the industry can contribute with useful input in the process of developing energy efficiency policy documents and new financing programmes. The industry particularly wish to be heard when new energy policies are being developed.
In manufacturing industry investments in process equipment and increased production output is normally prioritized ahead of implementing energy saving measures. It is therefore important to monitor the effect of implemented energy efficiency measures and disseminated the result more widely, in order to stimulate the industry increase profit margins by cutting energy costs. It was also concluded that the financing mechanisms provided by International Finance Institutions (IFI) today don’t fit all projects. The IFIs represented confirmed that they work continuously to adapt to the market and provide the necessary services. In addition to financing, technical assistance is often provided for by the IFIs. The main considerations made when assessing applications for financing is company solidity documented by balance sheets, company history of settling of debts, the viability of the project proved by well prepared project documentation and what type of guarantees that can be provided for.
It was also concluded that very little has been done in the field of energy efficiency in Macedonia during the last 20 years. RM has a lot of good technical expert, but few today have the experience in preparing bankable projects. International programmes were therefore encouraged to focus on energy auditing and in training local experts in preparing high quality feasibility studies.
The public call for company participation in phase 2 of the energy efficiency component was conducted in the late spring 2010. The beneficiaries of this round is the Municipality of Kavadarci, REK Bitola and OHIS. A start up meeting for the project teams were conducted the 25th June 2010, and the pre-feasibility studies on 5 projects are scheduled to be completed by December 2010.
Phase 3 under the Energy Efficiency Component will be initiated in the spring 2011.