Project Cycle
Financing is tied to investments that promote eligible Renewable Energy Projects below the threshold of 5 MWAC installed capacity (please see the Eligibility section for more information on eligible projects and technologies). A team of the Consultant’s technical, financial and ESHS (environment, social, health and safety) experts assists applicants in assessing their projects and preparing the loan application.
Interested companies, i.e. private investors, are invited to submit their applications that can be downloaded from the Downloads page of this website, in line with the below described application and evaluation procedure.
The Application Form for PV Plants up to 5 MW and a First Set of Supporting Documents (FSSD, according to the Checklist for Final Technical Assessment for PV plants up to 5 MW) shall be submitted by Investors to the Consultant in electronic form only to the email address mentioned in the Application Form, to ensure transparency of application registration process.
Applicants must certify in writing the accuracy of all submitted documents and are responsible for the veracity of the information provided to the Consultant.
Only one application can be submitted to the Consultant with each individual email at a time. It is not allowed to send more than one application with a single email. Such applications will not be accepted. If the total size of supporting documents to be attached to the email with Application Form exceeds 15 MB, the documents can be communicated via large data (file) transfer service. Applicants shall make sure that download link is mentioned in the email with Application Form submitted to the Consultant.
The chronology (sequence) of registration and consideration of applications by the Consultant is determined by the time of their delivery to the above-mentioned email account as well as by completeness and accuracy of submissions.
Within 3 working days upon receipt of an application and corresponding supporting documents, the Consultant will carry out a quick screening of completeness. In case of positive results of the screening, the Consultant will send a feedback email to the applicant to confirm the receipt of the package and its inclusion into the Long List of applications.
Applications will not be accepted and considered by the Consultant in case of incomplete or inaccurately filled Application Form and/or incomplete set of supporting documents. In case of receipt of incomplete set of supporting documents, the Consultant will send a feedback email to an applicant to identify missing documents and request to complete the submission. Applications with incomplete set of documents are not registered in the Long List until the missing documents are provided. An application is registered in the Long List and granted a sequential number on the day when the submission package is considered complete by the Consultant (and not on the day the application was first submitted to the Consultant).
Taking into consideration the limited financial resources available under Phase VI, a corresponding acceptance threshold for maximum number of applications, expressed in maximum total loan value requested by applicants (in Euro), will be set. Once the threshold of applications is reached, all new eligible applications exceeding the threshold will be moved to the Long List of Phase V, subject to the consent of GAF and KfW. It shall be noted also that some part of the funds available under the Phase IV has already been disbursed to finance implementation of small-scale (up to 0.5 MW PV power plants and solar water heating systems).
Within 10 working days upon the formal receipt of a long-listed application and supporting documents, the Consultant will carry out a full screening of completeness and accuracy of the provided information and finalize the preliminary assessment of the proposed project.
Applications positively assessed during the full screening will be moved to the Short List of applications, while corresponding applicants will be updated on this progress in due course. At the same time, short-listed applicants will be invited to submit the Second Set of Supporting Documents (SSSD), according to the Checklist for Final Technical Assessment for PV plants up to 5 MW) required for Technical Assessment and ESHS due diligence of the projects.
It is worth mentioning that projects to be funded under this Programme must comply with the Minimum Technical Requirements for PV plants up to 5 MW.
Applications negatively assessed during the full screening will not be registered in the Short List of applications. The Consultant will inform applicants on negative results of the application assessment via an email no later than 10 working days upon the day of application receipt, explaining the reasons for negative assessment and, if relevant, suggest deficiency mitigation actions that may help applicants to resubmit application for the same project.
Prior to proceeding with the full Technical Assessment of individual shortlisted projects, the Consultant will prioritize the projects based on information provided at the first application stage with consideration of technical and socio-environmental selection criteria. For this purpose, the following prioritization criteria with corresponding weighs will be applied.
|
N |
Criteria |
Weight |
Comments |
|
1 |
Category of a land plot before its usage for the purpose of a project (i.e. before the category of land plot was changed to “Energetic, transport, telecommunicational, public structure”) |
High |
Preference is given to those projects that are not located on former “agricultural”, “settlement”, “specially protected”, “forestry”, “water” and “reserved” lands |
|
2 |
Location of the plant |
High |
Preference is given to projects located in underdeveloped and frontier communities |
|
3 |
Expected (or actual) specific electricity generation (kWh/kWp) |
Medium |
Preference is given to the project with the higher specific electricity generation |
|
4 |
Loan to value ratio (LTV) |
Medium |
Preference is given to the projects with the lowest LTV ratio |
|
5 |
Total installed peak capacity of the plant (MWp) |
Low |
Preference is given to the project with the higher installed capacity |
|
6 |
Advantage of the proposed technology |
Low |
Preference is given to the projects that apply advanced technologies resulting to higher efficiency and generation (e.g. bi- facial, half-cut, single or double-axis trackers, etc.) |
|
7 |
“One investor - one project” criteria (applied only in case of limited funds) |
Low |
Preference is given to projects submitted by new investors who have not yet applied for funding under the Programme Phase IV and V |
In the event that two or more projects qualify for Technical Assessment simultaneously, and the funding volume under the Program is used up, the project that ranks higher in terms of the above evaluation criteria will be funded.
Short-listed projects are considered eligible for the final Technical Assessment and are moved to the Evaluation List upon submission of the full set of documents requested by the Consultant (SSSD).
The registration sequence of applications in the Evaluation List and subsequent Technical Assessment by the Consultant is determined by the timing of submission of full set of supporting documents (i.e. 100% of requested documents are made available to the Consultant as per the Minimum Technical Requirements for PV plants up to 5 MW and the Checklist for Final Technical Assessment for PV plants up to 5 MW), as well as with consideration of compliance of the proposed projects with the above mentioned selection criteria. The projects with full document submission and highest ranking according to the above selection criteria will be rated highest priority in the Evaluation List.
The Consultant will proceed with the evaluation of the first three projects included in the Evaluation List. The evaluation of each subsequent project from the Evaluation List begins only after the completion of evaluation of and, in case of positive conclusion, issuance of the Technical Assessment for one of the three projects under evaluation.
Within 60 working days upon the day of submission of the full set of documents and inclusion in the Evaluation List, the Consultant will carry out comprehensive evaluation of the submitted documents followed by Technical Assessment and ESHS due diligence of the projects.
Within this period, the Consultant may request applicants to provide additional information, calculations and data, as well as organize interviews with investors and site visits to the project sites. All new documents shall be provided to Consultant as soon as possible in order to not delay the evaluation process. In case of delays in the provision of the required additional documents and information, the Consultant reserves the right to extend the period for evaluation of applications.
The Consultant informs an applicant on positive results of the project evaluation and issuance of a positive Technical Assessment Report (subject to No Objection by KfW) via an email sent to an applicant and copied to GAF and KfW, no later than 60 working days after starting the Technical Assessment process. Once the application is assessed positively it is moved to the Implementation and Monitoring List.
The Consultant informs an applicant on negative results of the project evaluation and issuance of negative Technical Assessment (upon receiving no objection from KfW) via an email sent to an applicant and copied to GAF and KfW email, no later than 60 working days after starting the technical assessment process. Once the application is assessed negatively it is moved to the Archive.