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Companies invited to take part in interest-free financing program called Energy Efficient Home

September 5, 2018 | Comments: 0Author:

Photo: Pixabay
Companies invited to take part in interest-free financing program called Energy Efficient Home

Montenegro’s Ministry of Economy has invited suppliers, fitters and contractors in the field of household energy efficiency to apply to take part in its EUR 120,000 program called Energy Efficient Home.

The Energy Efficient Home program aims to establish a sustainable mechanism of interest-free financing that will help households switch to biomass (pellet and briquette) heating systems and install external thermal insulation and energy efficient woodwork, according to an invitation on the ministry’s website.

Loans under the Energy Efficient Home program will be approved to individual borrowers in amounts of up to EUR 8,000, with repayment periods of up to six years, according to the announcement. Within the limits of the maximum loan amount, borrowers can opt for one or more energy efficiency measures available under the program.

Suppliers and fitters of biomass heating equipment and construction companies interested in taking part in the program have until September 15 to apply. Tendering documents are available on request via , according to the public invitation posted on the ministry’s website.

The objective of the Energy Efficient Home program is to provide Montenegrin households with an opportunity to achieve financial as well as energy savings by switching to biomass heating and improving the thermal insulation of their homes, according to the ministry’s website.

Continuation of Energy Wood program

Energy Efficient Home represents a continuation of the Ministry’s Energy Wood program, which helped install about 1,010 pellet and briquette heating systems across Montenegro, the invitation recalled.

The Ministry of Economy implemented the Energy Wood program in three stages from 2013 to 2018. The latest, third stage was financed by the ministry with a budget of EUR 85,000, according to earlier reports.

As a result of the first two stages, which were implemented with the support of the Luxembourg Development Cooperation Agency and the Government of Norway, a total of 775 biomass heating systems were installed in Montenegro.

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