Turkey Residential Energy Efficiency Financing Facility (TuREEFF)
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TuREEFF will combine 350 million dollars of EBRD and CTF loans to promote a transition to Energy Efficiency lending by the PFIs, complemented by a comprehensive, donor funded, technical assistance programme.
A team of local and international experts provides support to help prospective borrowers identify and develop Energy Efficiency Sub-projects and prepare successful loan applications under TuREEFF. This technical assistance is provided free of charge and carried out with funding by the European Union (EU).
TuREEFF is intended to become a financing vehicle, supporting the practical implementation of the new building energy efficiency legislation and transposing of the EU Energy Performance of Buildings Directive (recast) in Turkey. TuREEFF is expected to operate in conjunction with the Government of Turkey (GoT) Urban Transformation Plan by providing finance for sustainable energy measures to be implemented alongside the physical rehabilitation of buildings included in the Urban Transformation Plan.
The project aims to build a sustainable structure for financing of energy efficiency projects in the residential sector in Turkey. The purpose of the Facility is to demonstrate the benefits of energy conservation and promote the expansion of renewable energy and energy efficiency investments at the residential level in Turkey using the financial intermediation model already being used by EBRD.