Moldovan Residential Energy Efficiency Financing Facility (MoREEFF) - Phase I

The objective of this project is to increase the energy efficiency of the residential buildings in the Republic of Moldova, where there is great potential for energy savings. MoREEFF provides long-term commercial financing to participating commercial banks for financing energy efficiency measures in residential houses in the country. The project generates investments in high performing energy efficiency technologies, promoting local suppliers and installers of equipment and engineers' activities related to these technologies. At the same time, the project aims at raising public awareness about the economic and environmental benefits of energy efficiency in this sector.

Some examples of the technological improvements would be the use of thermal protection of building envelopes, the increased efficiency of building services and the use of renewable energy sources (solar, biomass) for buildings.

The use of these technologies to reduce the quantity of energy losses in edifices, hence, significantly reduce greenhouse gases emissions. Finally, the energy savings obtained will also improve the electricity network capacity to face increases of demand without need of additional expensive investment in generation infrastructure.