Implementation of the Armenian Sustainable Energy Finance Facility (ArmSEFF)

ArmSEFF is a finance facility provided by EBRD to local participating banks in Armenia, which will then on-lend the funds for energy efficiency and renewable energy projects. The government of Armenia has indicated its willingness to pursue policy measures designed to enhance investments in supply and demand side energy efficiency and renewable energy, building on the 2004 Law on Energy Saving and Renewable Energy and the 2007 National Programme on Energy Saving and Renewable Energy.

ArmSEFF ensured that local participating banks become familiar with appraising and financing industrial and residential energy efficiency and small-scale renewable energy investment projects.  In addition the project instilled the necessary technical expertise in local engineers providing them with critical skills to identify and prepare technically feasible and bankable projects. The assignment helped to launch and promote the facility, develop a pipeline of bankable energy projects and carry out a detailed technical and economic assessment of the projects to be financed.

The scope of work of the assignment is:

• Promote ArmSEFF through public awareness and marketing campaigns;
• Provide overall project coordination in relation to the development of the energy projects
• Provide initial training to the participating banks;
• Develop a pipeline of potential energy projects;
• Advise on the eligibility of the energy projects proposed to be financed under ArmSEFF;
• Undertake preliminary screening and assistance in the preparation of energy projects;
• Prepare energy project assessment reports;
• Monitor the performance of the credit line facility and the financed energy projects.

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