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.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.3.3. - SOCIETAL CHALLENGES - Secure, clean and efficient energy
MAIN PROGRAMME
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H2020-EU.3.3.7. - Market uptake of energy innovation - building on Intelligent Energy Europe
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H2020-EU.3.3.1. - Reducing energy consumption and carbon foorpint by smart and sustainable use
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
CSA - Coordination and support action
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EE-2016-2017
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
1048 RIGA
Latvia
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.