EBRD to help Belarus improve renewable energy legislation

The European Bank for Reconstruction and Development (EBRD) is ready to help Belarus improve its renewable energy legislation, lead manager of the EBRD Department of Energy Efficiency and Climate Change Vincent Duijnhouwer told reporters on 23 June, BelTA has learned.

The EBRD implements Belarus Sustainable Energy Finance Facility (BelSEFF). According to Vincent Duijnhouwer, in line with this program the EBRD is ready to join efforts with the Belarusian government to improve legislation on the use of renewable energy sources. “Legislation is one of the components needed to implement our projects in this area,” he stressed.

Experts are now studying the economic efficiency of projects which were financed within the framework of the BelSEFF program. According to Principal Banker of the EBRD Financial Institutions Department Dzhakhongir Shamsiev, the financing of the project can be increased in the future. “BelSEFF is an innovative project for Belarus. Specialists will study the experience of its implementation; the program may be continued and the financing may be increased in the future,” he added.

Belarus Sustainable Energy Finance Facility has been implemented in the country since 2012. BelSEFF envisages loans in the amount of up to $50 million to sponsor energy efficiency and renewable energy projects. The EBRD’s financing of 47 projects has already reached $17.2 million.

The European Bank for Reconstruction and Development (EBRD) was founded in 1991. It is the largest investor in the region. Apart from using its own funds, the EBRD relies on considerable volumes of foreign direct investments. After the launch of the energy efficiency initiative in 2006 the EBRD invested over €16 billion in more than 1,000 projects in various countries. These are projects to produce wind, solar and hydro power, promote the use of environmentally-friendly transport and power stations, etc.