gada 15. marts From strategy to execution: experience in financing energy efficiency projects Ieva Tetere, Board member of SEB in Latvia

2 To share longer term experience of financing energy efficiency and related projects To outline the areas of development in order to increase energy efficiency financing Main issues for today

33 SEB: a leading Nordic financial institution and one of largest banks in Europe serving private, small and medium size and 2500 corporate and institutional customers worldwide in Latvia - a financial partner for more then private and corporate customers 90% of all new funding in Latvia for 2010 was corporate related TOP 3 industries in Latvia regarding new lending in 2010: –Wood processing –Agriculture –Manufacturing SEB in Latvia is nominated as a reputation leader in banking sector for 2010 SEB – the trusted partner for financial solutions

4 Achievements shape our future ambitions First apartment house renovation financed by SEB in : 25 loans in amount less then 1 million lats : 21 loan in amount of 1.6 million lats 2009: ERAF program with 50% co finance 2010: 33 loans in amount of 2.2 million lats More than 100 houses have agreement for EU funding and started renovation process, ~60% financed by SEB

5 Success story – Ventspils, Brīvības Street 33/35 “House keeper” - municipality owned company Nr. of apartments - 35 Loan LVL (50% by ERAF) Duration - 12 years Done - heat insulation of buildings, change of warm water regulation, heat insulation of drainpipes, maintenance of heating system

6 Success story – Liepāja, Klaipēdas 84 “House keeper” - apartment union “Klaipēdas 84” Nr. of apartments - 60 Loan EUR (50% by ERAF) Duration - 15 years Done - heat insulation of buildings, maintenance of staircase, change of windows and doors for common use areas, renovation of ventilation systems, maintenance of heating system

7 Success story – Ropaži, Rīgas Street 14 “House keeper” - apartment union “Pirmā māja” Nr. of apartments - 12 Loan EUR (50% by ERAF) Duration - 15 years Done - heat insulation of buildings, change of windows, maintenance of heating system.

8 Even more – SEB stands for energy efficiency on a broader scale In 2010 SEB granted 5,25 million euro for “Kuldīgas siltumtīkli “ - SIA "Kuldīgas siltumtīkli" is a company owned by Kuldīga district municipality - The loan goes for construction of biomass cogeneration electro station - The aim: to increase the production of heating and increase the usage of energy In 2009 SEB granted more then 2 million euro for farm "Līgo“ - The loan goes for construction of biogas production unit

9 More renovation projects, more questions The main challenge ahead: To agree on renovation (as at least 60% of inhabitants should agree on this activity) – I take care only about my apartment! To diminish potential issues/problems regarding: - lack of renovation quality - lack of energy audits quality - lack of procurement quality Suggestion: Need for public discussions and competence sharing: - awareness, - access to financial tools, - process and end quality, - benefits for renovation and related initiatives.

10 Thank you for your attention!