In Latvia, the Development Finance Institution ALTUM has recently launched the implementation of a support program to improve the energy efficiency of residential buildings and contribute to the use of renewable energy technologies.

The program is financed by the European Union Recovery Fund and the available funding is EUR 57.2 million. The main goal of the support program is to improve the energy efficiency of approximately 170 residential buildings. Specifically, each implemented project will achieve:

1. at least 30% primary energy savings
2. for every five thousand euros of the attributable costs of the renovation project, primary energy savings – 1 MWh/year.

The ALTUM program will cover up to 49% of the total eligible costs of the energy efficiency project without value added tax. The investment deadline is the 31st of August, 2026. Until the deadline, all documents certifying the completion of project implementation and fulfillment of assumed obligations must be submitted.

The Development Finance Institution ALTUM also issued a guide on how to get the capital in 12 steps, namely:

1. Agreement of apartment owners to support the program
2. Development of technical documentation
3. Application for mans.altum.lv capital discount reservation
4. Selection of service providers
5. Submission of supplier selection documentation to ALTUM
6. Application to a credit institution for a loan
7. Vote of apartment owners
8. Application through the bank for an ALTUM guarantee – or application for an ALTUM loan
9. ALTUM decision on loan or guarantee application and capital discount
10. Conclusion of the project contract
11. Application for ALTUM capital discount
12. ALTUM’s opinion on the adequacy of the implemented project and the application of the capital discount

The Ekubirojs One-Stop-Shop can support apartment owners in their building renovation journey by acting as Authorized Person and increase transparency and quality of the works through the SUNShINE Platform powered by EUROPA.