On the background of a trust crisis banks in Bulgaria focus on projects with minimum risk and solid guarantees. Initially all efforts were put in the EU funded projects but now treasuries turn more attention to renewable sources energy projects, the Pari Daily analyzes.
The latest product in this area was developed by UniCredit Bulbank with CEO Levon Hampartsumyan. The bank provides specialized loan for the construction of photovoltaic power plant. The financing is provided in the form of an investment credit. The bank will grant 90% of the project value for a period of 15 years.
The main reason for the banks’ increased interest in the renewable sources energy projects is the low risk – a result of the European Union’s strategy to have 20% of its energy produced by renewable resources till 2020.
At the moment in Bulgaria there is an international plan for financing such projects – Bulgarian Energy Efficiency and Renewable Energy Credit Line (BEERECL). The Bulgarian banks participating in the BEERECL include: Bulgarian Postbank, DSK Bank, Raiffeisen Bank, UniCredit Bulbank, Unionbank, United Bulgarian Bank, Piraeus Bank.
