Objective Deep renovation – the idea of capturing the full economic energy efficiency potential of existing buildings with focus on building envelopes – leads to remarkable energy savings. As nearly all of Latvia’s stock of multifamily residential buildings continues to rapidly deteriorate due to harsh weather conditions and lack of proper maintenance, the idea is attractive.Realizing this potential requires designing, financing and implementing complex energy efficiency investments, but today nearly all apartments in Latvia are privately owned. Practice shows that individual owners are inadequately organized to manage their collective property. Combined with a lack of awareness and technical knowledge, limited availability of funding, high risk perception and reluctance for debt financing, the barriers overwhelm most people.A concept that addresses these constraints is Energy Performance Contracting (EPC). A key feature of EPC is that the provider, an energy service company (ESCO), guarantees energy savings.SUNShINE supports public and private ESCO's and leads to an innovative investment scheme with a pipeline of projects worth €30m, guaranteed savings over 26GWh/year, and 202020m2 of deeply renovated buildings. A major objective is to demonstrate the financial viability of deep renovation via suitable financial engineering of public funds and private capitals.The proposed approach is simple, yet very innovative: most ESCOs have limited balance sheet capacity and are not able to support much long term debt. So re-financing is usually achieved by selling future cash flows (receivables) by a forfaiting transaction. After this transaction the ESCO continues to guarantee energy savings for the entire EPC term (15-20 years). Unfortunately, in emerging EPC markets like Latvia, there are not enough track records, so banks are not yet ready to offer these services to ESCOs. The project delivers the same service by establishing a special purpose fund for EPC. Fields of science social scienceseconomics and businesseconomicsengineering and technologyenvironmental engineeringair pollution engineeringsocial scienceslaw Programme(s) H2020-EU.3.3. - SOCIETAL CHALLENGES - Secure, clean and efficient energy Main Programme H2020-EU.3.3.7. - Market uptake of energy innovation - building on Intelligent Energy Europe Topic(s) EE-20-2014 - Project development assistance for innovative bankable and aggregated sustainable energy investment schemes and projects Call for proposal H2020-EE-2014-2015 See other projects for this call Sub call H2020-EE-2014-4-PDA Funding Scheme CSA - Coordination and support action Coordinator RIGAS TEHNISKA UNIVERSITATE Net EU contribution € 202 185,00 Address Kipsalas iela 6a 1048 Riga Latvia See on map Region Latvija Latvija Rīga Activity type Higher or Secondary Education Establishments Links Contact the organisation Opens in new window Website Opens in new window Participation in EU R&I programmes Opens in new window HORIZON collaboration network Opens in new window Other funding € 0,00 Participants (6) Sort alphabetically Sort by Net EU contribution Expand all Collapse all RENESCO SIA Latvia Net EU contribution € 357 932,50 Address Noliktavas iela 3-2 1010 Riga See on map SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed. Yes Region Latvija Latvija Rīga Activity type Private for-profit entities (excluding Higher or Secondary Education Establishments) Links Contact the organisation Opens in new window Participation in EU R&I programmes Opens in new window HORIZON collaboration network Opens in new window Other funding € 0,00 EKU SAGLABASANAS UN ENERGOTAUPIBAS BIROJS Latvia Net EU contribution € 158 896,25 Address Aleksandra caka iela 52-37 1011 Riga See on map Region Latvija Latvija Rīga Activity type Other Links Contact the organisation Opens in new window Participation in EU R&I programmes Opens in new window HORIZON collaboration network Opens in new window Other funding € 0,00 FUNDING FOR FUTURE BV Netherlands Net EU contribution € 263 555,00 Address Stetweg 43 b 1901 JD Castricum See on map SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed. Yes Region West-Nederland Noord-Holland IJmond Activity type Private for-profit entities (excluding Higher or Secondary Education Establishments) Links Contact the organisation Opens in new window Participation in EU R&I programmes Opens in new window HORIZON collaboration network Opens in new window Other funding € 0,00 EKODOMA Latvia Net EU contribution € 203 515,00 Address 3-3 noliktavas street LV-1010 Riga See on map SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed. Yes Region Latvija Latvija Rīga Activity type Private for-profit entities (excluding Higher or Secondary Education Establishments) Links Contact the organisation Opens in new window Website Opens in new window Participation in EU R&I programmes Opens in new window HORIZON collaboration network Opens in new window Other funding € 0,00 SIA SALASPILS SILTUMS Latvia Net EU contribution € 186 270,00 Address Miera iela 31a 2169 Salaspils See on map Region Latvija Latvija Pierīga Activity type Private for-profit entities (excluding Higher or Secondary Education Establishments) Links Contact the organisation Opens in new window Participation in EU R&I programmes Opens in new window HORIZON collaboration network Opens in new window Other funding € 0,00 ECO.NRG SIA Latvia Net EU contribution € 183 637,50 Address Vienibas gatve 87c-1 LV-1004 Riga See on map Region Latvija Latvija Rīga Activity type Private for-profit entities (excluding Higher or Secondary Education Establishments) Links Contact the organisation Opens in new window Participation in EU R&I programmes Opens in new window HORIZON collaboration network Opens in new window Other funding € 0,00
