Private Sector Participation in Market-Based Energy-Efficiency Financing Schemes : Lessons Learned from Romania and International Experiences
Financing of energy-efficiency (EE) projects in a country almost always commences with public funds. Examples are energy service company (ESCO) businesses in the United States and Canada that were able to take advantage of public funds for public b...
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| Format: | ESMAP Paper |
| Language: | English en_US |
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Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2003/11/2879916/private-sector-participation-market-based-energy-efficiency-financing-schemes-lessons-learned-romania-international-experiences http://hdl.handle.net/10986/19651 |
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okr-10986-196512021-04-23T14:03:38Z Private Sector Participation in Market-Based Energy-Efficiency Financing Schemes : Lessons Learned from Romania and International Experiences World Bank ACCOUNTING AFFILIATES AGING AUDITS AUTONOMY BALANCE SHEET BANKING SYSTEM CAPITAL MARKETS CAPITALIZATION CARBON CARBON DIOXIDE COMMERCIAL BANKS COMMERCIAL BORROWING COMMERCIAL CREDIT COMPETITIVENESS CORPORATE FINANCE CREDIT OFFICERS CREDIT RISK CREDIT RISK MANAGEMENT DEBT EMERGING MARKETS EMISSIONS ENERGY CONSUMPTION ENERGY EFFICIENCY FEASIBILITY STUDIES FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SERVICES FINANCING MECHANISM FINANCING SOURCES FOREIGN BANKS GUIDELINES HOUSING INFLATION INSTITUTIONAL DEVELOPMENT INTEREST RATES INTERNATIONAL BANKS LENDING INSTITUTIONS MACROECONOMIC CONDITIONS MANAGERS MARGINAL COST MARKET PRICES MARKETING POLITICAL INTERFERENCE PORTFOLIOS PRIVATE SECTOR PRIVATIZATION PROFITABILITY PUBLIC FINANCE PUBLIC SECTOR SAVINGS SUBSIDIARY TECHNICAL ASSISTANCE TRANSACTION COSTS TRANSPARENCY Financing of energy-efficiency (EE) projects in a country almost always commences with public funds. Examples are energy service company (ESCO) businesses in the United States and Canada that were able to take advantage of public funds for public buildings (World Bank 1999), most of the EE funds worldwide as compiled in a recent Alliance to Save Energy report (ASE 2002), or various EE projects funded by international financial institutions (IFIs). A sustainable EE business can, however, develop only if public funding is complemented by funding from the private sector. In the past few years, some equity funds with IFI and private sector participation have sprung up, such as the Renewable Energy and Energy Efficiency Fund for Emerging Markets (REEF) and Dexia-FondElec, and several IFI/GEF projects in transition and developing countries have experimented with various features that would reduce the barriers for private sector involvement in financing EE projects. The longest running of those financial schemes is the Hungary IFC/GEF Guarantee Fund. In light of the lessons learned from those projects, this report concentrates on the example of Romania, where implementation of a World Bank GEF project with a market-based EE financing mechanism has just started. Until recently, Romanian energy consumers were enjoying energy prices well below world market prices. With restructuring of the energy sector, the energy price level is now going up and subsidies are being phased out. Together with restructuring and privatization in the industrial sector, there are now incentives for investments in energy efficiency that would reduce costs and improve the competitiveness of Romanian companies. 2014-08-25T20:13:01Z 2014-08-25T20:13:01Z 2003-11 http://documents.worldbank.org/curated/en/2003/11/2879916/private-sector-participation-market-based-energy-efficiency-financing-schemes-lessons-learned-romania-international-experiences http://hdl.handle.net/10986/19651 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Publications & Research :: ESMAP Paper Publications & Research Europe and Central Asia Romania |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING AFFILIATES AGING AUDITS AUTONOMY BALANCE SHEET BANKING SYSTEM CAPITAL MARKETS CAPITALIZATION CARBON CARBON DIOXIDE COMMERCIAL BANKS COMMERCIAL BORROWING COMMERCIAL CREDIT COMPETITIVENESS CORPORATE FINANCE CREDIT OFFICERS CREDIT RISK CREDIT RISK MANAGEMENT DEBT EMERGING MARKETS EMISSIONS ENERGY CONSUMPTION ENERGY EFFICIENCY FEASIBILITY STUDIES FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SERVICES FINANCING MECHANISM FINANCING SOURCES FOREIGN BANKS GUIDELINES HOUSING INFLATION INSTITUTIONAL DEVELOPMENT INTEREST RATES INTERNATIONAL BANKS LENDING INSTITUTIONS MACROECONOMIC CONDITIONS MANAGERS MARGINAL COST MARKET PRICES MARKETING POLITICAL INTERFERENCE PORTFOLIOS PRIVATE SECTOR PRIVATIZATION PROFITABILITY PUBLIC FINANCE PUBLIC SECTOR SAVINGS SUBSIDIARY TECHNICAL ASSISTANCE TRANSACTION COSTS TRANSPARENCY |
| spellingShingle |
ACCOUNTING AFFILIATES AGING AUDITS AUTONOMY BALANCE SHEET BANKING SYSTEM CAPITAL MARKETS CAPITALIZATION CARBON CARBON DIOXIDE COMMERCIAL BANKS COMMERCIAL BORROWING COMMERCIAL CREDIT COMPETITIVENESS CORPORATE FINANCE CREDIT OFFICERS CREDIT RISK CREDIT RISK MANAGEMENT DEBT EMERGING MARKETS EMISSIONS ENERGY CONSUMPTION ENERGY EFFICIENCY FEASIBILITY STUDIES FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL SERVICES FINANCING MECHANISM FINANCING SOURCES FOREIGN BANKS GUIDELINES HOUSING INFLATION INSTITUTIONAL DEVELOPMENT INTEREST RATES INTERNATIONAL BANKS LENDING INSTITUTIONS MACROECONOMIC CONDITIONS MANAGERS MARGINAL COST MARKET PRICES MARKETING POLITICAL INTERFERENCE PORTFOLIOS PRIVATE SECTOR PRIVATIZATION PROFITABILITY PUBLIC FINANCE PUBLIC SECTOR SAVINGS SUBSIDIARY TECHNICAL ASSISTANCE TRANSACTION COSTS TRANSPARENCY World Bank Private Sector Participation in Market-Based Energy-Efficiency Financing Schemes : Lessons Learned from Romania and International Experiences |
| geographic_facet |
Europe and Central Asia Romania |
| description |
Financing of energy-efficiency (EE)
projects in a country almost always commences with public
funds. Examples are energy service company (ESCO) businesses
in the United States and Canada that were able to take
advantage of public funds for public buildings (World Bank
1999), most of the EE funds worldwide as compiled in a
recent Alliance to Save Energy report (ASE 2002), or various
EE projects funded by international financial institutions
(IFIs). A sustainable EE business can, however, develop only
if public funding is complemented by funding from the
private sector. In the past few years, some equity funds
with IFI and private sector participation have sprung up,
such as the Renewable Energy and Energy Efficiency Fund for
Emerging Markets (REEF) and Dexia-FondElec, and several
IFI/GEF projects in transition and developing countries have
experimented with various features that would reduce the
barriers for private sector involvement in financing EE
projects. The longest running of those financial schemes is
the Hungary IFC/GEF Guarantee Fund. In light of the lessons
learned from those projects, this report concentrates on the
example of Romania, where implementation of a World Bank GEF
project with a market-based EE financing mechanism has just
started. Until recently, Romanian energy consumers were
enjoying energy prices well below world market prices. With
restructuring of the energy sector, the energy price level
is now going up and subsidies are being phased out. Together
with restructuring and privatization in the industrial
sector, there are now incentives for investments in energy
efficiency that would reduce costs and improve the
competitiveness of Romanian companies. |
| format |
Publications & Research :: ESMAP Paper |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Private Sector Participation in Market-Based Energy-Efficiency Financing Schemes : Lessons Learned from Romania and International Experiences |
| title_short |
Private Sector Participation in Market-Based Energy-Efficiency Financing Schemes : Lessons Learned from Romania and International Experiences |
| title_full |
Private Sector Participation in Market-Based Energy-Efficiency Financing Schemes : Lessons Learned from Romania and International Experiences |
| title_fullStr |
Private Sector Participation in Market-Based Energy-Efficiency Financing Schemes : Lessons Learned from Romania and International Experiences |
| title_full_unstemmed |
Private Sector Participation in Market-Based Energy-Efficiency Financing Schemes : Lessons Learned from Romania and International Experiences |
| title_sort |
private sector participation in market-based energy-efficiency financing schemes : lessons learned from romania and international experiences |
| publisher |
Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2003/11/2879916/private-sector-participation-market-based-energy-efficiency-financing-schemes-lessons-learned-romania-international-experiences http://hdl.handle.net/10986/19651 |
| _version_ |
1764437308616998912 |