A capital discount

A capital discount is a total or partial reduction of the principal loan amount. The capital discount available under this programme is up to 30% of the project costs excluding VAT, but not more than EUR 1.5 million.

• When applying for project selection, the applicant determines the maximum capital discount amount available for the project. If the project is selected, the capital discount is reserved for the given project.

• The capital discount is paid once the project is completed and the objectives of the project, primary energy savings or reduction of greenhouse gas emissions, are achieved.

• The company hires a certified energy auditor to prepare a report on the results of the project and present the relevant technical documents, except if the project only envisages purchase of wind and solar power generation equipment.

Altum in cooperation with energy efficiency experts evaluates the report on the results of the project to determine whether the projected primary energy and CO2 reduction goals have been achieved.

If the projections have been achieved, Altum takes a decision on application of the capital discount and issues the capital discount for repayment of the mezzanine loan or partial repayment of the Altum direct loan.