Project description
Upgrading Dublin’s public buildings faster
Upgrading public buildings in Dublin so they use less energy is a top priority for Ireland’s capital city and is in line with EU obligations. However, upgrades are not proceeding as fast as expected. Codema, Dublin’s Energy Agency, is keen to reverse this trend. In response, the EU-funded DeliveREE project will develop an innovative project finance and delivery structure for renewable energy and energy efficiency projects. Its aim will be to accelerate the formation of large-scale projects by standardising the project development process. The project will assist Codema in meeting its aims to build upon this experience and create a structure that will facilitate the investment of much needed private finance.
Objective
The current approach to upgrading public buildings in Dublin is ad hoc and while energy and green house gas (GHG) emissions savings are being achieved it is not happening at the speed or scale necessary to meet Ireland’s EU obligations. Codema, Dublins Energy Agency, want to address these problems through innovative project aggregation (scale), contracting structures (speed) and financing (capital) to accelerate and de-risk the Delivery of Renewable and Energy Efficiency projects across Dublin (DeliveREE). DeliveREE is an innovative project finance and delivery structure for renewable energy and energy efficiency projects in Dublin using performance contracting structures. By creating a structured approach DeliveREE will accelerate the formation of large-scale projects by standardising the project development process allowing projects of various types to be aggregated together to create scale. This enables the use of energy performance and energy supply contracts whose performance guarantees are both critical for achieving value for money and provide a mechanism for the involvement of private capital. Through DeliveREE Codema aims to build upon this experience and create a structure that will facilitate the investment of much needed private finance into public projects in order to scale-up, de-risk and accelerate the energy efficient refurbishment of public buildings and the development of renewable energy projects with the intention to roll-out to private sector commercial and residential buildings across Dublin. DeliveREE aims to trigger €20.4m investments into a series of over 140 sustainable energy projects leading to a reduction of 3,977 tCO2-eqyear.
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CSA - Coordination and support actionCoordinator
2 Dublin
Ireland