What can be financed?

What can be financed

Eligible investment projects are classified into two major categories:

Energy efficiency (EE) investments:

Projects that reduce energy consumption while maintaining or improving production capacity:

  • Various types of efficient production machinery and equipment: CNC machines, conveyor production lines, presses, painting chambers, driers, furnaces, ovens, etc.
  • Heating, ventilation, cooling, and light systems: efficient boilers and heaters, air conditioning systems, refrigerators and freezers, centralised ventilation systems, LED lighting, biomass boilers, etc.
  • Improvements in the insulation and windows of buildings: new or additional external wall insulation, replacement of windows
  • Transportation vehicles or agricultural equipment: tractor units, tractors, combines, drip irrigation systems, sprayers, etc.

Renewable energy (RE) investments:

Project that generate and/or consume energy resources that are inexhaustible or that can be restored quickly:

  • Photovoltaic panels
  • Solar panels to heat water for business applications
  • Heat pumps and complete geothermal energy solutions for heating and cooling applications
  • Energy production systems that use biomass and biogas
  • Wind turbines

Energy services:

ESCOs provide the full range of services to energy users to design and implement Energy Efficiency Measures (EEM). EEMs are often considered the most cost-efficient way to promote sustainable energy, they focus on optimising the operation and performance of energy equipment and distribution systems. Such services are provided by the ESCO through an Energy Performance Contract (EPC) under which the payments from the energy user to the ESCO are contingent upon achieving the agreed performance level of the implemented EEM. Depending on the specific financing mechanisms, the ESCO is remunerated for its investments through a share in the realised energy cost savings for a predefined amount of time. Energy savings guarantees are a feature of every EPC contract.

Assessment of eligibility of green investments:

Depending on the size and complexity of your project, a simplified Energy Audit is required. This assessment will be carried out by the technical specialists from the R2E2 Fund; they will analyse your project according to the programme’s technical and eligibility criteria. The results of the analysis will available within two days.

Investments which do not require a simplified energy audit are registered in the positive list of standard green investment measures.

Positive list of standard green investment measures:

Classification Eligible investment measure Eligibility criteria

Heating, ventilation and air conditioning

Gas boiler for heating European EE class A (or higher)
Condensing boiler for heating or hot water Always eligible
Installation of an air-to-air or water-to-air heat pump as a space heat resource With COP ≥ 3.0
Air conditioning split units European EE class A+ (or higher)
Air conditioning VRF system with multi-split Always eligible
Ventilation Air handling units, with heat recovery ≥ 70%


Efficient lighting systems LED or high pressure sodium lamps ≥ 80 lm/W

Process heating 

Steam boiler for industrial purposes Steam boiler with economizer and thermal efficiency of at least 90%

Process cooling 

Commercial cooling appliances (chest freezers, vitrines, etc.) With European EE class A (or higher)
Cooling chambers (≥ 0°C) With new cooling compressor and thermal insulation of chamber
≥ 8 cm
Freezing chambers (< 0°C)   With new cooling compressor and thermal insulation of chamber
≥ 10 cm

Building envelope improvements

Building insulation of walls and roofs
  • PUR ≥ 5 cm or
  • XPS ≥ 8 cm or
  • Mineral wool ≥ 8 cm or
  • Cellulose ≥ 8 cm
Windows and door installation Three-layer glazing or two-layer glazing with ≥ one low-emission glass

Food processing equipment 

Industrial mixer With ≥ 2 speeds or electronic controls
Ovens for bakeries Convection oven with electronic controls or rotary oven with electronic controls


Heavy-duty vehicles (≥ 7.5t) With diesel engine and ≥ EURO 5
Construction vehicles (loaders, excavators, etc.) Always eligible
Light duty trucks (GVW ≤ 3,500 kg) Combined fuel consumption
≤ 8 l/100km and ≥ EURO 5
Electric cars Always eligible
Hybrid vehicles Always eligible
Elevators European EE class A (or higher)

Motors and pumps

 Compressed air Specific energy consumption
≤ 110 Wh/Nm3
 Electric Motors  IE ≥ 3
 Circulators Energy efficiency index (EEI) ≤ 0.33
 Water pumps Minimum efficiency index (MEI)
≥ 0.4


Tractors Always eligible
Combine harvesters Always eligible
Greenhouse energy screens Always eligible

Other measures 

Printing machines Always eligible

Working capital

Working capital Positive list-based materials, equipment and machinery
Solar energy 
Photovoltaic systems Always eligible
Solar water heating systems Always eligible

Working capital

Working capital Positive list-based materials, equipment and machinery

Value chain

Charging stations for electrical vehicles Always eligible