Sustainable Energy Investing and Financing Activation

Project Information

SEIFA

Grant agreement ID: 101033741

DOI

10.3030/101033741

Project closed

EC signature date 3 May 2021

Start date 1 June 2021

End date 30 November 2023

Funded under

• SOCIETAL CHALLENGES - Secure, clean and efficient energy

Total cost

€ 1 499 841,25

EU contribution

€ 1 499 841,25

Coordinated by

PEDAL CONSULTING SRO
Slovakia

Periodic Reporting for period 2 - SEIFA (Sustainable Energy Investing and Financing Activation)

Reporting period: 2022-12-01 to 2023-11-30

Summary of the context and overall objectives of the project

The project of the Sustainable Energy Investing and Financing Activation (SEIFA) created incentives to increase private equity investing for the industrial decarbonisation of the built environment. The SEIFA project was focusing on investing in and financing sustainable industrial projects, energy supply facilities, and energy service companies. The investors-first approach was held with an emphasis on the environmental impact in terms of decarbonisation rate and risk-adjusted rate of return. A new investment vehicle to incentivise investments in sustainable energy projects was established and successfully launched on 3 October 2023. Introduced innovative financing schemes include sustainable energy investing risks metrics and benefits. A network of deal originators was established in 12 CEE countries. The financial software tools are ready for the ongoing portfolio overview, assessments, and sustainability reporting. The intensified efforts of partners towards both investors and investees led to the first signed letters of commitment with the potential deals in Poland and advanced negotiations with first investors which give promising outlook to the future with first closing and demo deal being expected in 2Q 2024. The sustainability of the SEIF is ensured through its takeover and integration into its portfolio by GND and transformation of the fund into a self-sustainable financial mechanism.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

In RP2, SEIFA reached the remaining milestones (4) and submitted all deliverables (15), met majority of KPIs with some surpassed in line with the schedule proposed in the Grant Agreement (GA). All the tasks across WPs were completed with the main results that can be summarised as follows:

WP1: Bilateral meetings and 1st AB meeting held on 15/12/2022 to seek feedback on the SEIF value proposition towards investees and investors. Progress Report 1 approved, 12 meetings and teleconferences (combined) both internals and externals with CINEA, 2 Steering Committee Votes.

WP2: 3 more deliverables accomplished. All KPIs met and surpassed.

WP3: SEIFA Platform fully developed and operational.

WP4: Over 800 possible investable projects identified, over 200 discussions opened, 4 demo deals in progress with LoIs signed.

WP5: SEIF and other project outcomes introduced to over 1000 potential investors, over 120 meetings or follow-up communication, discussions ongoing, 1st closing expected in 2Q 2024.

WP6: The fund fully established, launched on 3/10/2023.

WP7: C&D activities and KPIs continued and completed - in total over 20 blogposts, 3 videos, 6 newsletters, 16 synergies with existing projects and other initiatives, over 40 external events attended to present SEIFA.

In conclusion, all the planned deliverables for the 2nd period, and the whole realisation period alike, were duly submitted on time, in line with the schedule proposed in the GA. Moreover, 5 out of 7 milestones were accomplished completely and 2 partially and most of the 37 KPIs were met with some being surpassed. The main exploitable results are the SEIF fund and its linked assets – the Network of Project Aggregators (NPA) and the SEIFA Platform as commercially exploitable, and Lessons learnt and recommendations toolkit, Investable projects’ package and Data models as non-commercially exploitable. The sustainability of SEIF is ensured through its takeover and integration into its portfolio by GND and transformation of the fund into a self-sustainable financial mechanism.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

During the RP2 project has successfully achieved all the deliverables, milestones and most of the KPIs across all the objectives. The major accomplishment reached in line with the recommendations given in the assessment of the first periodic report was the successful launch of the SEIF on the 3 October 2023. Along with its linked assets – the NPA and the SEIFA Platform; and other non-commercially exploitable assets: Lessons learnt and recommendations toolkit, Investable projects’ package and Data models; these project outputs are the main exploitable assets that will be sustained after the realisation period of the project.
These assets will trigger investments in sustainable energy, provide significant primary energy savings, reduce GHG emissions, and also boost EU competitiveness by improving the efficiency of production processes and reducing the costs of accessing and managing resources among other positive impacts.

SEIFA in EUSEW 2022, Brussels, September 2022.

SEIFA in EUSEW 2022, Brussels, September 2022.

Consortium Meeting of SEIFA in SLORD, Brussels, May 2022.