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Objective

In the Covenant of Mayors signatories commit to a Sustainable Energy and Climate Action Plan. However, often municipalities lack capacity to turn their plans into actions; and the residential sector is often left behind and deep renovations not implemented.
Realizing this potential requires designing, financing and implementing complex energy efficiency investments. Practice shows that small and medium municipalities are inadequately organized to manage and finance this process. At the same time individual owners in the residential sector are inadequately organized to manage their collective property.
Accelerate SUNShINE supports Energy Performance Contracting (EPC), with a pipeline of projects worth €27m and guaranteed savings over 27GWh/year. A major objective is to demonstrate the financial viability of deep renovation via suitable project bundling, municipal partnerships and financial engineering.
In the proposed approach four municipalities works together in a shared project management unit, composed by experts covering technical, socio-economic, legal and financial advisory. This unit deals with project development and process standardization. In each municipality public buildings are bundled for Energy Performance contracting based procurement. At the same time each municipality establish a support scheme for the deep renovation of multifamily residential buildings always based on Energy Performance contracting and continuing the effort made by SUNShINE.
As most ESCOs have limited balance sheet capacity, re-financing is usually achieved by selling future receivables by a forfaiting transaction. Accelerate SUNShINE supports this solution, further rolling out the Latvian Baltic Energy Efficiency Facility, which is an investment fund with a single purpose: forfaiting receivables from EPC. Here process standardization is very important for attracting private and institutional investors.

Call for proposal

H2020-EE-2016-CSA
See other projects for this call

Coordinator

RIGAS TEHNISKA UNIVERSITATE
Address
Kalku Iela 1
1658 Riga
Latvia
Activity type
Higher or Secondary Education Establishments
EU contribution
€ 198 106,25

Participants (7)

EKODOMA
Latvia
EU contribution
€ 211 730
Address
3-3 Noliktavas Street
1010 Riga
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
EKU SAGLABASANAS UN ENERGOTAUPIBAS BIROJS
Latvia
EU contribution
€ 196 995
Address
Noliktavas Iela 3 2
1010 Riga
Activity type
Other
FUNDING FOR FUTURE BV
Netherlands
EU contribution
€ 312 468,75
Address
Stetweg 43 B
1901 JD Castricum
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
ADAZU NOVADA DOME
Latvia
EU contribution
€ 128 465
Address
Gaujas 33A
2164 Adazi
Activity type
Public bodies (excluding Research Organisations and Secondary or Higher Education Establishments)
JURMALAS PILSETAS DOME
Latvia
EU contribution
€ 188 935
Address
Jomas Iela 1/5
2015 Jurmala
Activity type
Public bodies (excluding Research Organisations and Secondary or Higher Education Establishments)
TUKUMA NOVADA PASVALDIBA
Latvia
EU contribution
€ 185 035
Address
Talsu Iela 4
3101 Tukuma
Activity type
Public bodies (excluding Research Organisations and Secondary or Higher Education Establishments)
BAUSKAS NOVADA ADMINISTRACIJA
Latvia
EU contribution
€ 155 405
Address
Uzvaras Iela 1
3901 Bauska
Activity type
Public bodies (excluding Research Organisations and Secondary or Higher Education Establishments)