Energy Efficiency and Renewable Energy Financial Instrument in Malta (EERE)

BOV and APS Bank are partnering with the European Investment Fund (EIF), mandated by the Maltese Managing Authority, to deliver interest free loans under EERE during the first ten years. EERE is complemented by an advisory support package, implemented by the European Investment Bank (EIB) and PwC.

The EERE FI aims to improve financing conditions for enterprises and natural persons, through a guarantee and an interest rate subsidy. The interest rate subsidy applies for 10 years and helps to push the loan interest rates for project promoters near 0%. Favourable financing under EERE is available to private individuals, SMEs, Mid-Caps, large enterprises, constituted bodies and entities in the public/private sector which do not qualify as “undertaking” within the meaning of state aid rules.

The combination of EERE FI with other grant schemes is possible if the EERE loans are not used to pre-finance the grant. EERE aims to help Maltese businesses and individuals to go green in a faster and more affordable manner.

The EERE FI is being implemented in line with the de minimis regulation and General Block Exemption Regulation (GBER).

This scheme is not applicable to undertakings in difficulty as per provisions of Commission Regulation (EU) No 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty (General Block Exemption Regulation), as amended. However, aid may be granted to undertakings which were not in difficulty on 31st December 2019 but became undertakings in difficulty in the period from 1st January 2020 to 31st December 2021.

Is it a Residential or Business Investment?

Residential Investments

BOV and APS Bank are partnering with the European Investment Fund (EIF) under the Energy Efficiency and Renewable Energy Financial Instrument in Malta (EERE) to support individuals who are personally investing in environmentally friendly practices and cleaner technologies.

What are the benefits?


All loans are being offered at an attractive fixed subsidy of on the interest rate for the first 10 years of the loan. This means that if the current variable interest rates remain unchanged, during this period, the loan will be offered at interest free.

Loan Term

Extended loan terms up to a maximum of 15 years.

Low extendible security requirements

What can the loan be used for?

The loans can finance energy efficient or renewable energy products and systems. The below are some examples:

  • Purchase of electric or hybrid vehicles with a minimum 50km EV range
  • Windows & Doors
  • Charging Stations for electric vehicles
  • Building-envelope related measures with impact on thermal performance
  • Insulation
  • Domestic Hot Water
  • Ventilation Systems
  • Building and Energy Management Systems
  • Lighting
  • Connection to Energy Supplies
  • Cooling
  • Renewable Energy Investment
    (E.g. Solar Panels, Solar Water Heaters)

Until when is the scheme available?

Any loans financed through the EERE FI must be disbursed by 31st December 2023

In collaboration with

BOV offers a number of Eco-Financing Solutions tailored for personal, home and business needs.

APS Bank offers the ECO Loan, The full financing loan offers both secured and unsecured loans, and waivers all fees.

EERE Impact Requirements

To apply for financial support under the EERE, the climate impact (i.e. energy savings, greenhouse gas emission gas (GHG) reductions and/or renewable energy generation capacity) of the investment project may need to be evaluated.

For loan applications by individuals and enterprises that are related to standardised energy efficiency and renewable energy measures, the impact of the investment project can be estimated easily thanks to CliMalta: a climate impact calculator. For loan applications by individuals and enterprises that are related to electric / hybrid vehicles, BOV and APS Bank can help their customers with the impact assessment, thanks to the GHG emissions savings calculator.

For loan applications by enterprises that are related to non-standardised energy efficiency and renewable energy measures, enterprises are required to provide APS Bank and BOV with an ex-ante energy efficiency audit from a registered certified auditor, detailed energy study from a warranted engineer, energy performance certificate or any other equivalent method to estimate the energy savings.