HBOR energy efficiency loan 2026: conditions, required energy savings and a write-off of up to 50% of the principal
The energy efficiency loan from HBOR (Croatian Bank for Reconstruction and Development), under the Energy Efficiency Loans for Businesses (Krediti za energetsku učinkovitost poduzetnika) programme, finances investments that reduce energy consumption in manufacturing, trade, hospitality, accommodation and other service activities. The loan amounts to up to EUR 3 million. Half is financed by the European Regional Development Fund (ERDF) at 0% interest, and the other half by a commercial bank on its own terms. Repayment lasts up to 17 years with a grace period of up to 3 years, and once the criteria are met, up to 50% of the principal disbursed can be written off. The investment must reduce energy consumption by at least 20% in manufacturing, or by 30% in the commercial and service sector. The application is submitted to one of five commercial banks, not directly to HBOR.
This guide covers the programme conditions, an example calculation, the procedure and the most common mistakes. The information was checked on the HBOR website on 27 October 2026. We compare the other HBOR programmes in the guide HBOR loans for entrepreneurs 2026, and all open incentives in the overview Business incentives 2026.
In brief: key conditions
| Condition | Value |
|---|---|
| Loan amount | up to EUR 3 million |
| Sources | ERDF and a commercial bank in a 50:50 ratio |
| Interest | 0% fixed on the ERDF portion; on the bank portion, as decided by the bank |
| Repayment | up to 17 years, including a grace period of up to 3 years; monthly, quarterly or semi-annual instalments |
| Principal write-off (capital rebate) | up to 50% of the total principal disbursed, if the criteria are met |
| Required energy savings | manufacturing at least 20%; commercial and service sector at least 30%; ancillary buildings (heating and cooling) at least 50% |
| Fees | no processing, commitment or write-off fee; other bank fees only on the bank portion |
| Where to apply | Erste, HPB, OTP, PBZ or Raiffeisenbank |
| Loan disbursement deadline | until 31 December 2029 |
Who can apply for the loan
- Entities of any legal form, size and ownership structure, including large enterprises, from the manufacturing industry and the commercial and service sector.
- They must have been registered for the activity in which they are investing for at least one year before submitting the application.
- By the time the loan agreement is signed, they must have a registered business unit or branch in Croatia.
- They must not be an undertaking in difficulty, and only one loan from the programme can be contracted with each beneficiary.
- Companies in the Emissions Trading System (ETS) need prior consent from the Ministry of Environmental Protection and Green Transition.
What is financed and how much energy must be saved
The loan finances energy efficiency measures and the installation of equipment for using renewable energy sources, for example new, more efficient production equipment, heat pumps, waste heat recovery, lighting, control systems and solar power plants for own consumption. The key requirement is that the investment demonstrably reduces energy consumption compared with the baseline:
- Production plant: at least 20% less delivered energy.
- Buildings ancillary to the production plant (offices, warehouses and similar): at least 50% less energy for heating and cooling.
- Commercial and service sector (trade, hospitality, accommodation and other services): at least 30% less energy at the level of the unit in which the investment is made.
- Other costs that are necessary for the investment or relate to accessibility and mobility can make up to 30% of the loan.
The savings are confirmed by an energy audit or a technical study, so it should be prepared before the application. Only the parts of the investment that are not physically completed by the time the loan is approved are eligible, and refinancing of existing loans is not allowed.
Write-off of up to 50% of the principal: how the capital rebate works
The capital rebate is non-repayable aid paid out by writing off part of the principal from ERDF funds once the beneficiary meets the criteria in Annex 1 of the programme. It amounts to no more than 50% of the total principal disbursed, but may be lower if it would exceed the permitted aid intensity, which depends on the loan amount, the size of the company and the region. The criteria can also be met after 31 December 2029. Read more about how the rebate is calculated and when it is paid out in the article Capital rebate: principal write-off on HBOR loans.
Example calculation
| Item | Amount |
|---|---|
| Loan | EUR 1 million |
| ERDF portion, 0% interest | EUR 500,000 |
| Commercial bank portion, interest set by the bank | EUR 500,000 |
| Maximum possible write-off (50% of the principal disbursed) | up to EUR 500,000 |
| Principal remaining to be repaid with a full write-off | EUR 500,000, plus the bank’s interest on its portion |
How to apply
- Energy audit and investment plan: establish the baseline consumption and demonstrate that the investment achieves the required savings.
- Application to the bank: the application and documentation are submitted to one of the five selected banks (Erste, HPB, OTP, PBZ, Raiffeisenbank), which carries out the analysis and determines the collateral.
- Start of the investment: costs are eligible if they are incurred after the loan application is submitted, and only those paid after the loan decision are refunded.
- Loan drawdown: as a rule up to 12 months, with the option of a longer period.
- Capital rebate: after implementation, the beneficiary demonstrates that the criteria have been met, and the write-off is made from the ERDF portion of the loan.
Most common mistakes
- An order or advance payment before the loan application, which makes that cost ineligible.
- Savings below the threshold of 20 or 30%, or a calculation without a reliable baseline consumption.
- Too many non-energy costs, above 30% of the loan.
- An investment that is already completed, or refinancing of an existing loan.
- Ignoring the State aid rules, which makes the capital rebate lower than expected.
Energy efficiency or production modernisation?
Manufacturing SMEs that introduce automation or Industry 4.0 solutions in addition to saving energy can also consider HBOR’s Loans for Production Modernisation (Krediti za modernizaciju proizvodnje) (from EUR 100,000 to EUR 3 million, 0% on half of the loan, write-off of up to 50% of the principal), for which the application is submitted directly to HBOR. The energy efficiency loan is also available to large enterprises and to trade, hospitality and accommodation, but only through a bank.
Planning an investment in energy savings?
Let us check whether the project reaches the required savings and how much of the principal could be written off
In the introductory call we go through your investment, energy consumption and financing plan, and tell you whether the HBOR energy efficiency loan is the right choice or whether another programme is more favourable. The introductory call is free. Email or call us.
Frequently asked questions
What is the maximum amount of the HBOR energy efficiency loan?
Up to EUR 3 million. Half of the loan is financed by the European Regional Development Fund at 0% interest, and the other half by a commercial bank on its own terms. The repayment period is up to 17 years, with a grace period of up to 3 years.
How much of the principal can be written off?
Up to 50% of the total principal disbursed, as a capital rebate from ERDF funds, once the programme criteria are met. The write-off may be lower if it would exceed the permitted State aid intensity.
How much energy must be saved?
At least 20% of delivered energy in production plants, at least 30% in the commercial and service sector, and at least 50% of the energy for heating and cooling in buildings ancillary to the production plant.
Where is the loan application submitted?
At one of the five selected commercial banks, which are Erste, HPB, OTP, PBZ and Raiffeisenbank. The application is not submitted directly to HBOR, and the bank determines the collateral.
Can a large company or a hotel apply for this loan?
Yes. The programme is open to entities of any size and legal form from the manufacturing industry and the commercial and service sector, including trade, hospitality and accommodation, if they have been registered for the activity of the investment for at least one year.
Can I start the investment before the loan is approved?
Costs are eligible if they are incurred after the loan application is submitted, and only those paid after the loan decision are refunded. Parts of the investment that are physically completed by the time of approval are not eligible.
Sources
- HBOR: Energy Efficiency Loans for Businesses (programme, Annex 1 with the capital rebate criteria and the list of banks)
- Omnia Solutions: HBOR loans for entrepreneurs 2026
The conditions are summarised from official sources as of 27 October 2026 and may change. The applicable programme text on hbor.hr prevails. The decision on the loan is made by the commercial bank, and the decision on the capital rebate by the competent bodies under the programme rules.
