Verification Consultant for the Kosovo Sustainable Energy Projects (KOSEP)

To support the government of Kosovo’s sustainable energy objectives, the EBRD is establishing the Kosovo Sustainable Energy Projects (“KOSEP”) that will extend credit lines totalling EUR 12 million to Participating Financial Institutions (PFIs) targeting sustainable energy investments in the SME sector.

The objectives of the Verification Consultant are to

• Ensure that the use of proceeds of each sub-loan has met the eligibility criteria and that funded investments have been completed substantially on the basis of the project assessment report prepared by the Project Consultant, on which the sub-projects were based;
• Ensure that incentive fees due to sub-borrowers on completion of eligible investments are approved for release by the EBRD only when a sub-project is validated as having met the eligible criteria and that no recommendation on release of incentive fees will be given where such validation is not possible.

The on-site verifications are performed according to the following standards:

• Visit the site of each sub-project when sub sub-project has been substantially completed;
• Validate, against the investment plan that the sub-project has been completed substantially on the basis of the investment plan and the CVR check-list prepared by the Project Consultant;
• Provide to the EBRD and the relevant PFI, an opinion whether the sub-project has been completed substantially in line with the investment plan and the eligibility criteria – such opinion to be in the form of a memo and a CVR certificate issued based on the CVR check list, to include bank account details for the payment of the investment incentive to the SME.

Type of Services provided:

• Performing onsite checks of all large energy efficiency/renewable energy Sub-projects exceeding EUR 300,000;
• Performing desk-based verifications of all small scale energy efficiency/renewable energy Sub-projects below EUR 300,000;
• Performing onsite checks of a random sample of 10% of the small scale energy efficiency/renewable energy Sub-projects.

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