European Islands Facility - Unlock financing for energy transitions and supporting islands to develop investment concepts

Proposals are expected to set up and run a 'European Islands Facility' which offers expertise and/or financial support and services to islands:

• The Islands Facility should offer expertise and/or financial support to develop, within a limited period of time, innovative cost-effective investment concepts based on (or the development of – if they do not yet exist) a transition plan and a coherent set of projects that will lead to a decarbonised, efficient and resilient island energy system using local energy flows and resources;
• The Islands Facility should be able to provide, inter-alia: translation of ambitions into a holistic energy transition plan, assistance in modelling of the energy transition on the island(s), a clear identification of the individual potential project pipeline(s), legal analysis and support, a description of how the investments will be financed and, if relevant, how the financing will be mobilised locally, advice on available funds and a design of the pro

  Mobilising investment in energy efficiency and renewables is key for Europe's energy transition. In 2017 the European Commission and 14 EU Member States signed a political declaration to launch the new 'Clean Energy for EU Islands' initiative. Its aim is to help islands reduce their dependency on energy imports by making better use of their own renewable energy sources and embracing more modern, socially inclusive and innovative energy systems.

  Europe's more than 2200 inhabited islands can be considered living-labs which can deliver a pipeline of energy investment projects across Europe. Energy transitions on islands often benefit from low opportunity costs due to the existing high prices of conventional liquid fuels in contrast to the variety of renewable sources they may have available.

  However, despite tremendous potential, too few islands in Europe succeed in developing and scaling up investment packages. A high degree of organisational, technical and financial innovation is needed to reach

  Proposals are expected to demonstrate the impacts listed below using quantified indicators and targets wherever possible:

  • Demonstration and documentation of increased leveraging of finance into energy transition investments by public authorities;
  • Overall, for every million Euro of Horizon 2020 support the action should trigger energy transition investments worth at least EUR 10 million;
  • Number of investment concepts delivered, and number of concepts that turned into tangible investments after the provided support;
  • Number of public authority staff with increased capacity for developing investible energy transition projects;
  • Innovation uptake by potential replicators;
  • Primary energy savings, GHG reductions, renewable energy production and investments in sustainable energy triggered by participating public authorities after the support of the action (respectively in GWh/year and in million EUR of investments).