The cheapest, cleanest and safest source of energy is the saved energy!

The Bulgarian Energy Efficiency and Renewable Sources Fund (EERSF):

  • Facilitates Energy Efficiency Investments
  • Pursues Substantial Reduction of Greenhouse Gases
  • Promotes the Development of a Working Energy Efficiency Market in Bulgaria

The Energy Efficiency and Renewable Sources Fund (EERSF) was established through the Energy Efficiency Act adopted by the Bulgarian Parliament in February 2004. The initial capitalization of EERSF is entirely with grant funds, its major donors being: the Global Environment Facility through the International Bank for Reconstruction and Development (the World Bank) – USD 10 million; the Government of Austria – Euro 1.5 million; the Government of Bulgaria – Euro 1.5 million and several private Bulgarian companies.

EERSF has the combined capacity of a lending institution, a credit guarantee facility and a consulting company. It provides technical assistance to Bulgarian enterprises, municipalities and private individuals in developing energy efficiency investment projects and then assists their financing, co-financing or plays the role of guarantor in front of other financing institutions.

EERSF Fund Manager is the Consortium “Econoler-EnEffect-Elana” (EEE). The consortium is composed of the Canadian energy efficiency consultancy “Econoler International”, the Foundation “Center for Energy Efficiency EnEffect” and the non-banking financial institution “Elana Holding” PLC. The underlying principle of EERSF’s operations is a public-private partnership. The Fund pursues an agenda fully supported by the Government of Bulgaria, but it is structured as an independent legal entity, separate from any governmental, municipal and private agency or institution.

For more information about the Fund, please visit Summarised and up-to-date information regarding EERSF operation, actitivties and projects is avaialbe in the “Case Studies” section.