Finance your renovation
Guaranteed safety, health and comfort
The BUILDING ENERGY EFFICIENCY FACILITIES or BEEFs are funds created to facilitate long-term investments necessary for multifamily building and public building renovation projects.
The Building Energy Efficiency Funds function based on a set of Guidelines that make sure that the Service Providers have done their construction work properly, reaching the energy savings stated in the Energy Performance Contract (EPC).
Once it is shown that a renovation project meets the highest energy efficiency standards, at the same time providing to owners safety, health and comfort guarantees for 20 years, the fund purchases future revenue from the Service Provider. Consequently, the owners can pay for the renovation during a longer period – 20 years – using the energy savings to cover the costs. Meanwhile, the Service Provider can work further on next building comprehensive renovation project.
Forfaiting in 3 steps
- The BEEFs finance projects that are accomplished according to the BEEF Guidelines, aiming at the EPC++ contract. Before the start of the renovation project, the above-mentioned requirements must be taken into consideration by the Service Provider.
- When the Service Provider is ready to implement a multifamily-building renovation project in accordance with the BEEF Guidelines and has agreed with the commercial bank on project funding for the first 2-3 years, it can sign the Forfaiting agreement with the BEEF, who commits to purchase the Service Provider’s future revenue that will be generated during the project after the renovation.
- After the building has been renovated and one heating season passed, the BEEF makes an audit, verifying whether the objectives that were set in the EPC have been achieved by the Service Provider. If the roject is compliant with the Guidelines, the BEEF will buy around 80% of the future revenue of the Service Provider. The remaining of the cash flows received by the Service Provider during the entire duration fo the project.
The BEEF forfaiting Guidelines and online platform ensure public and transparent financing process, where all interested parties are taken into account.
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The LABEEF fund is financed by private investors and the development banks, such as the European Bank for Reconstruction and Development (EBRD).