A €3 million loan with an expected €1.5 million write-off.
A manufacturing company is investing around €4 million in energy efficiency. We prepared the project for an HBOR loan with the highest possible principal write-off. The client remains anonymous at its own request.
Published in November 2026. The project is under assessment.
investment in energy efficiency
HBOR loan, half of it at 0% interest
expected principal write-off, 50% of the loan
What we did.
- We modelled energy consumption. We separated the project unit from the consumption of the whole site and calculated the plant’s consumption from its machines and operating hours.
- We estimated the savings for each measure and checked which write-off threshold the project reaches, within the aid ceiling for the company’s size and region.
- We set up a project unit: one team coordinates the designers, the bank, the documents and the deadlines.
How the write-off works.
A loan is available from 20% savings in delivered energy at the production plant. The principal write-off starts only at 30% savings plus a minimum saving in kWh.
The highest write-off, 50%, requires at least 67% savings, a minimum in kWh and at least one new renewable energy measure. The write-off is state aid, so it is also capped by the aid ceiling for the company’s size and region.
| Principal write-off | Micro and small | Medium | Large |
|---|---|---|---|
| 15% | 30% and 50,000 kWh | 30% and 50,000 kWh | 30% and 250,000 kWh |
| 25% | 40% and 100,000 kWh | 40% and 100,000 kWh | 40% and 400,000 kWh |
| 35% | 50% and 200,000 kWh | 50% and 200,000 kWh | 50% and 550,000 kWh |
| 50% | 67% and 400,000 kWh + RES | 67% and 400,000 kWh + RES | 67% and 700,000 kWh + RES |
| Aid ceiling, share of eligible cost | |||
| Processes and equipment | 32.5% | 27.5% | 22.5% |
| Buildings | 60% | 50% | 40% |
| Renewables | 65% | 55% | 45% |
- Savings mean the reduction in delivered energy against the baseline. Both conditions must be met, the percentage and the kWh, otherwise a lower write-off applies.
- RES: at least one new renewable energy measure, such as a solar power plant.
- The ceilings apply outside the City of Zagreb. In Zagreb they are 5 percentage points lower for processes and equipment and 10 lower for buildings.
- For all sizes: loan up to €3 million, half from EU funds at 0% interest, repayment up to 17 years including up to 3 years’ grace, write-off up to 50% of the principal. Commercial and service sectors have different thresholds.
What you can apply.
- Start with consumption data. Without a reliable baseline there is no proof of savings and no write-off.
- Calculate the write-off threshold before the main design, for both the percentage and the kWh.
- Do not start works before the loan decision. Only what is not physically completed on the decision date is eligible.
- One beneficiary can get only one loan, so include all units in the same application.
- The write-off comes after the investment and proven savings. Plan your cash flow with the full loan.
Source: HBOR, Loans for energy efficiency of entrepreneurs (lending programme, Annex 1 and Annex 1a, version 2 of 27 July 2026), checked on 8 November 2026. Official programme page (opens in a new tab) - Conditions on our page
The write-off is not guaranteed. The bank decides on the loan, and the write-off depends on the savings achieved and on state aid rules. All news →
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