Funding is essential for the project development including debt and equity financing. There are other financial instruments that facilitate project development, and these have a variety of purposes and names. The organizations listed in each of the subsections below provide financial resources to project developers. Some have only a financial objective while other organizations have both a financial and public-policy objective associated with their services:
International Financial Institutions (IFIs) have been established (or chartered) by more than one country and are subjects of the International Law. Their owners or shareholders are generally national governments, although other international institutions and other organizations can be shareholders.
IFIs can provide direct debt financing (for big projects), equity contribution, and credit lines to commercial banks servicing as intermediaries for on-lending to project sponsors (for small and medium projects) called also as credit line facilities. IFIs can also offer other financial instruments such as loan guarantees, mezzanine financing, and other.
IFIs can provide technical assistance for project preparation and implementation.
Below are the links to the IFIs actively working in Bulgaria.
Сommercial banks in Montenegro provide financial products to individual and business clients (project sponsors), which can be used for financing of green energy projects. Some banks offer on-lending to their clients under credit line facilities provided by IFIs. Many banks have the ability to develop customized products and services to meet client’s specific needs.
Below are the links to commercial banks in Montenegro (use a filter to search banks by name and location):
Equity financing is provided by international, bilateral and local equity funds, capital corporations, venture capital funds and other entities in exchange for shares in companies owning these projects. Equity investors can leverage equity with debt financing by cooperating with IFIs (for medium and big projects) and commercial banks (for medium and small projects).
Selected equity investors considering investments in Montenegro are presented below:
Energy Service Companies (ESCOs) can provide a broad range of comprehensive energy solutions including designs and implementation of energy savings and energy efficiency projects, power and heat generation and energy supply. ESCOs can offer own financing or structure third-party financing. ESCOs are often paid for their services from potential energy savings, but other service arrangements also possible.
There are still no ESCOs in Montenegro.