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Project Cycle

Financing is tied to investments that promote the use of renewable energy sources (please see the section Eligibility for more information on eligible projects and technologies). A team of technical and financial experts assist applicants in assessing their projects and preparing the loan application.

Interested companies must fill out the Technical Application Questionnaire available from this website and submit it via email. The implementation team makes a preliminary technical screening of the company and its proposed project. If eligibility is confirmed, EBRD signs a Mandate Letter with the borrower. Further evaluation follows with technical and environmental due diligence reviews.

Technical and environmental due diligence includes but is not limited to:

  • final eligibility check
  • technical analysis of the renewable resource, project design, cost estimates, equipment selection, construction and contracting arrangements, grid connection arrangements (if applicable) and other aspects of the technical concept
  • commercial analysis to assess the proposed contractual arrangements, including licensing and permitting, land use, grid connection, off-take, operating and maintenance arrangements etc.
  • estimation of the greenhouse gas emissions reductions
  • development of an activity based schedule for the project
  • assessment of operational or management measures that should be implemented by the sponsor to ensure successful implementation and operation of the energy project
  • assessment of borrower’s compliance with national standards for environmental protection as well as health & safety, with recommendations for addressing any areas of non-compliance
  • confirmation of technical eligibility under specific technical criteria (see Eligibility section for details)
  • financial and risk analyses
  • other investigations.

Further, the implementation team will assist the sponsors in making financing applications to the EBRD, although each prospective sponsor will itself be ultimately responsible for preparing its proposal for EBRD financing and liaising on all project-related issues.

Finally, based on the investigations performed within the framework of the technical and environmental due diligence as well as its own calculations, EBRD takes a final decision on the loan conditions and disbursement.