Estonia inherited an energy inefficient building stock from the Soviet era. Kredex runs a very successful financial programme to support the modernisation of apartment buildings.
The purpose of this programme was to attract international climate finance to enhance the efficiency of buildings. The loand provided by Kredex were for investments which reduce energy consumption by at least 20% for apartment buildings with up to 2000m2 closed net area and 30% for larger apartment buildings. Thermal energy leakage was prevented through a range of insulation measures and improvements to the heating and ventilation system. The programme targeted multi-apartment buildings with at least three apartments that were built before 1993 located all over Estonia.
As a result of this project Kredex attracted an investment from the government of Luxembourg.
Client: KfW, Kredex,
Partners: Climate Focus, Atlas Environmental Law Advisory