EU/EBRD
Energy Efficiency Finance Facility - EUEEFF

In order to qualify for the incentive grant, projects must be verified by an independent Verification Consultant Industry Sector (“VCIS”). The VCIS for this Facility is MWH Harza Engineering.

The responsibility of the VCIS is to:

• Ensure that the proceeds of each sub-loan have met the eligibility criteria and that funded investments have been completed substantially on the basis of the REUP, on which the projects were based.
• Ensure that fees due on completion would be approved for release by the EBRD acting on behalf of the European Commission, only when a sub-project is validated as having met the eligibility criteria, and that no recommendation on release of completion and administration fees will be given where such validation is not given.

The Completion Validation Review includes the following tasks:

• VCIS will visit the site of each sub-project when sub sub-project has been substantially completed.
• VCIS will validate, against the REUP that the sub-project has been completed substantially on the basis of the REUP and the CVR check-list agreed with the Bank.
• VCIS will provide to the EBRD and the relevant PB, an opinion whether the sub-project has been completed substantially in line with the REUP and the eligibility criteria – such opinion to be in the form of a memo and a CVR certificate issued based on the CVR check list
• When requested by the EBRD, the VCIS shall analyze the draft REUP in its development stage and advise the Bank’s Operation Leader on the appropriateness of and risks related to the chosen development of the project.

Each Completion Validation Review will include:

• Evaluation on the completion and commissioning of the Sub-Project, confirming its compliance with the initial plans in the energy audit or similar assessment. In case of deviation from those plans, justification of the differences and evaluation of consequences.
• Copy of the acceptance certificate signed by the Sub-Borrower after conclusion of the commissioning tests, where applicable.
• Statement of the ISI.

In completing this assignment, the VCIS will receive from EnCon, the REUP for each sub-borrower when a loan has been approved by a PB, monthly reporting on implementation progress and a notification of expected sub-project completion.

Progrаmmе project mangers are on hand to offer additional information. office@enconservices.com
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© 2009 EnconServices International (Disclaimer) Last modified: 2009-10-19