CORDIS
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CORDIS

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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.

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)

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EKODOMA

Latvia

EU Contribution

€ 211 730

EKU SAGLABASANAS UN ENERGOTAUPIBAS BIROJS

Latvia

EU Contribution

€ 196 995

FUNDING FOR FUTURE BV

Netherlands

EU Contribution

€ 312 468,75

ADAZU NOVADA DOME

Latvia

EU Contribution

€ 128 465

JURMALAS PILSETAS DOME

Latvia

EU Contribution

€ 188 935

TUKUMA NOVADA DOME

Latvia

EU Contribution

€ 185 035

BAUSKAS NOVADA ADMINISTRACIJA

Latvia

EU Contribution

€ 155 405

Project information

Grant agreement ID: 754080

Status

Ongoing project

  • Start date

    1 April 2017

  • End date

    31 March 2020

Funded under:

H2020-EU.3.3.7.

H2020-EU.3.3.1.

  • Overall budget:

    € 1 577 140

  • EU contribution

    € 1 577 140

Coordinated by:

RIGAS TEHNISKA UNIVERSITATE

Latvia