Last update: 18 July 2022
Buildings in the content of the Plan (extracted from the REC/E3G Romanian Country Profile)
Romania’s final NRRP has a total budget of €29.2bn of loans and grants. Nearly 7.5% (€2.2bn) of this allocation is earmarked to be spent as part of the “Fund for the Renovation Wave”. It is split in nearly equal shares between energy renovation measures in multifamily residential properties (€1.1bn) and public buildings (administrative offices, buildings serving public services, including historic buildings) (€1.17bn). The Plan supports a range of enabling measures, including the realisation of the National Buildings Registry and implementation of the energy building passport – (€5 m); strengthening the professional capacity of specialists and construction workers for buildings with increased energy performance – development and operation of regional training centres – (€10 m); support to circular economy and increasing the energy efficiency of historic buildings – (€15m). Outside the specific Renovation Wave component, measures include the creation of a new financial instrument (portfolio guarantee) for energy efficiency for SMEs and individuals (€0.2bn). Another fund of funds will be created for larger enterprises (covering energy efficiency and renewable energy) (€0.1bn). Together with the Renovation Wave measures this brings the total renovation investment value to €2.6bn (8.9%). A further €2.6bn are earmarked for other building infrastructures like construction of new social housing and retirement homes, hospitals and healthcare facilities, and pre-school programmes.
Read the full Romanian Country Profile here.
Disbursements’ timeline
- 2021-12-02: European Commission disburses €1.8 billion in pre-financing of grants to Romania.
- 2022-01-13: European Commission disburses €1.9 billion in pre-financing of loans to Romania.
- 2022-05-25: Romania and the European Commission sign the Operational Arrangements.
- 2022-06-01: Romania submitted the first payment request of €2.6 billion (net of pre-financing). This first payment request relates to 21 milestones covering several reforms.
Indicative timeline for future payment requests (based on the signed operational arrangements)
Grants
| Payment Request for the First Instalment | EUR 2.037.146.414 | Q2 2022 |
| Payment Request for the Second Instalment | EUR 2.147.491.242 | Q3 2022 |
| Payment Request for the Third Instalment | EUR 2.047.491.242 | Q1 2023 |
| Payment Request for the Fourth Instalment | EUR 1.833.123.426 | Q3 2023 |
| Payment Request for the Fifth Instalment | EUR 1.797.491.242 | Q1 2024 |
| Payment Request for the Sixth Instalment | EUR 1.114.735.960 | Q3 2024 |
| Payment Request for the Seventh Instalment | EUR 1.034.850.903 | Q1 2025 |
| Payment Request for the Eight Instalment | EUR 895.629.540 | Q3 2025 |
| Payment Request for the Ninth Instalment | EUR 791.460.724 | Q1 2026 |
| Payment Request for the Tenth Instalment | EUR 540.269.059 | Q2 2026 |
Loans
| Payment Request for the First Instalment | EUR 907.669.494 | Q2 2022 |
| Payment Request for the Second Instalment | EUR 1.080.198.230 | Q3 2022 |
| Payment Request for the Third Instalment | EUR 1.095.638.920 | Q1 2023 |
| Payment Request for the Fourth Instalment | EUR 1.352.726.966 | Q3 2023 |
| Payment Request for the Fifth Instalment | EUR 1.404.167.655 | Q1 2024 |
| Payment Request for the Sixth Instalment | EUR 2.646.042.066 | Q3 2024 |
| Payment Request for the Seventh Instalment | EUR 2.625.927.123 | Q1 2025 |
| Payment Request for the Eight Instalment | EUR 1.463.482.557 | Q3 2025 |
| Payment Request for the Ninth Instalment | EUR 1.248.073.477 | Q1 2026 |
| Payment Request for the Tenth Instalment | EUR 1.118.226.512 | Q2 2026 |
Table of buildings' measures (categorised under their specific instalments)
The renovation-related targets and milestones expected by Q3 2022 are:
| Number of Milestones | Name of Milestone | Value of whole measure | Indicator | Progress & Comments |
| Milestone 1 | Establishment of a Renovation Wave fund to finance works to improve the energy efficiency of the existing building
(C5.I1a) |
€987.50 million + €12.50 million (alternative fuels) (loan) | (i) Establishing a national support scheme for energy and efficiency renovation and integrated renovation (seismic consolidation and energy efficiency) of multifamily residential buildings and (ii) publication of three call specifications. The scheme shall finance the energy renovation of at least 4,3 million m² of residential buildings. | Completed. 2 calls for application were launched. Finalized in October 2022. Linked to instalment 2 (loan). – The financing scheme shall ensure that at least 90 % from the total allocation shall be used for energy efficiency works and not more than 10 % of the allocation shall be used for seismic consolidation and other complementary works (such as fire safety, accessibility.) |
| Milestone 2 | Establishment of a Renovation Wave fund to finance works to improve the energy efficiency of the existing building
(C5.I1b) |
€1157.50 million + €12.50 million (alternative fuels) (loan) | (i) Establishing a national support scheme for energy efficiency renovation and integrated renovation (seismic consolidation and energy efficiency) for public buildings and (ii) publication of two call specifications. The scheme shall finance the energy renovation of at least 2,3 million m² of public buildings. | Completed. 2 calls for application were launched. Finalized in October 2022. Linked to instalment 2 (loan). The financing scheme shall ensure that at least 90 % from total allocation shall be used for energy efficiency works and not more than 10 % of the allocation shall be used for seismic consolidation and other complementary works (such as fire safety, accessibility). |
| Milestone 3 | Financial instruments for the private sector – Energy efficiency investment in the residential and buildings sector (C9.I2.5) | €100 million (part of) (loan) | Signature of the contribution agreement between the European Commission and the Romanian Government. The Contribution Agreement allows Romania to contribute the dedicated funds to the InvestEU Programme, managed at EU level, which are then provided as a guarantee to attract private investments in the country via financial intermediaries. | Completed (linked to instalment 1). The investment shall take the form of a portfolio guarantee, to be implemented as a contribution to InvestEU by the European Bank for Reconstruction and Development (“EBRD”).
|
All information has been extracted from the Study: “E3G. (2021). Renovate2Recover: How transformational are the National Recovery Plans for Buildings Renovation?” and the European Commission’s Recovery and Resilience Scoreboard.