Project description
A platform for third-party financing companies
The EU-funded ORFEE project aims to create a shared platform called the Office of Renovations and Financings for Energy Efficiency, for the attention of third-party financing companies (Sociétés deTiers-Financement -STF - in French). This platform will act as a resource centre to define a corpus of conformity and quality for housing renovations. It will cover the orientation of households towards renovation programmes adapted to their needs and energy efficiency objectives, as well as the completion of the works, the follow-up of consumption and the issuing of quality guarantees for homeowners. ORFEE will also ease the dialogue with banks willing to attribute energy and environmental labels and help STF to strengthen their financial structure.
Objective
"This project aims to structure a shared resource platform for third-party financing companies (Sociétés de Tiers-Financement - STF): the Office of Renovations and Financings for Energy Efficiency (ORFEE).
The ORFEE will be a resource center to consolidate the business model of STFs: to pool their developments and coordinate their operational processes, to reduce their costs, to centralize findings and better disseminate them, etc.
ORFEE aims to define a corpus of conformity and quality of the renovations, ranging from the orientation of households towards renovation programs adapted to their needs and energy efficiency objectives, until the completion of the works and the follow-up of consumption, as well as issuing quality guarantees for the owners. This operational guarantee would cover, in case of poor performance, the resumption of work. ORFEE should rely on best practices in Europe and North America, to structure and size the guarantee fund and to strengthen operational support to STF.
It should also be based on a dialogue with banks that want to attribute energy and environmental labels to the financing of renovations.
The design of ORFEE must also allow the STF to strengthen their financial structure: ORFEE will help STF to structure the dialogue they have to build with the EIB and financial investors with a view to improve their funding.
Loans granted by the STF to households would be transferred without recourse to a special purpose vehicle The objective is twofold: to remove from their assets the receivables of STF on households and multi-property buildings to master the size of their balance sheet and optimize their equity, and secondly, to feed investors with securities issued by the SPV, complying with the ""GREENFIN"" label implemented in France - or other equivalent labels in Europe.
ORFEE consortium is formed with STF which are already operative and consulting firms bringing their expertise."
Programme(s)
Funding Scheme
CSA - Coordination and support actionCoordinator
75010 Paris
France
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.