Short description of the overall project

The 40 million DKK Renewable Energy and Energy Efficiency Programme 2014-2017 (REEEP) is a component under the intervention area energy efficiency (EE) and green technology of Pillar 2 of the Danish Neighbourhood programme 2013-17, which aims at promoting sustainable and inclusive economic Development in the target countries. REEP finances three engagements. 15 million DKK are allocated to an authority-to-authority cooperation between the Ukrainian Ministry of Energy and Coal Industry and the Danish Energy Agency (DEA) on energy planning methodologies and approaches carried out under the name of Center for Energy Efficiency and Renewable Energy (CEERE). 15 million DKK fund the Neighbourhood Energy Facility (NEF) for the 2014-17 period. NEF is a grant finance instrument linked to three IFU-managed investment funds: the Investment Fund for Central and Eastern Europe (IFCEE), the Investment Fund for Developing Countries (IFU), and the Danish Climate Investment Fund (DCIF). It promotes greening of non-climate related project companies which IFU invested in and development of climate-related projects for IFU and DCIF co-finance 10 million DKK are allocated to the E5P Regional Fund (E5P-RF), a grant facility managed by EBRD, which co-finances public sector EE&RE projects in Armenia, Georgia and Moldova developed and debt-financed by EBRD, EIB, IBRD, NEFCO and NIB.

Short description of activities financed by the donation

economically viable energy and environmental projects identified, supported, and implemented

• Georgia: 2 projects were approved for a total of 56 mil. EUR with a grant amount from E5P of 13 mil. EUR
• Moldova: 1 project was approved for a total of 10 mil. EUR with a grant amount from E5P of 3 mil. EUR