8th Financial Workshop-Sophia, BG

Eighth workshop held to explore the financing of energy efficient step-by-step retrofits

Date: 29th May 2015

Location: in the offices of Bulgarian Energy Efficiency and Renewable Energy Fund (BGEEF), Sophia

Participants: The participants were experts from BGEEF, who have already attended the financial seminar the day before. The themes discussed were continuation of the topics raised from the seminar. There were 4 people participating in workshop from the side of BGEEF and 4 lectors.

Klaus Stocker (second left person on the left picture) is explaining Financial models at 8th Financial workshop in Sophia, Bulgaria; Photos © EnEffect


  • Discussion of funding for projects in Bulgaria in the sphere of energy efficiency.

  • Description of practical examples of funding in Germany (including new buildings, residential and administration buildings);

  • Government building standards and their impact on the interest rate of loans

  • Energy performance certificate (EPCs) as an additional positive factor for buying (or renting) buildings;

  • Discussion of possible solutions for the problems in Bulgaria (increasing the motivation of owners of residential buildings, changes in the legislative base for public financing etc.);

  • Grants for reconstructions – method of receiving a grant;

  • Stimulation of financing of sustainable housing retrofit in Bulgaria – proposal: long-term loans. Currently there are only short-term loans. One condition has to be fulfilled – credit duration should not exceed 20 years, because the life of some constructive elements (for example – windows) does not exceed 20 years;

  • Discussion of situation of financing of sustainable housing retrofit in Germany with practical examples – interest rate, payback period, possibility of prepayment;

  • Discussion: which standards must be achieved and what measures must be implemented to receive a grand from KfW or other financial institutions? – the experience in Germany and the possibility of its application in Bulgaria (example installation of ventilation – benefits and disadvantages);

  • Presentation of two projects – Delfn Kindergarten in the town of Burgas and Multi Profile Hospital for Active Treatment “Dr. Stamen Iliev” in the town Montana.

  • Discussions about ENSI – Energy Saving International AS;

  • Explanation of calculation 4% interest rate from Presentation (Slide 14 – Cash Flow Example: Housing refurbishment (Rental Homes)).


You can download presentations from Financial workshops or browse other downloadable EuroPHit materials here.