Financing for Renewables and Energy Efficiency

Under the Plan for the Promotion of Renewable Energy in Spain (Plan de Fomento de las Energías Renovables en Espana, PFER) prepared by IDAE (the Institute for Diversification and Saving of Energy) on the basis of Law 54/1997 on the Electricity Sector (Ley 54/1997, del Sector Eléctrico), the Oficial Credit Institute (ICO) and IDAE provided a credit line for investment in renewable energy and improving efficiency projects (saving and fuel switching in industry, energy efficiency in buildings, etc). Public finance would back up to 70% of the project investment by means of loans at low interest rates, between 2-5%. The programmes total budget for 2001 was €9.62 million.

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