The FINERPOL project aims to increase the rate of refurbishment of buildings to improve their energy efficiency, by improving access to investment finance. It is supported by European Regional Development Funding provided through the Interreg Europe Programme.
Buildings account for 40% of energy use and 36% of CO2 emissions in the European Union. Increasing investment in energy efficiency and renewable energy for buildings is a major challenge to meet European Union targets for 2030 to reduce carbon emissions. However, austerity measures and a more risk-averse investment climate have slowed considerably the rate of investment.
Energy efficiency investments save money and can often pay for themselves if suitable investment finance and project development support is available. The use of European Regional Development Funds (ERDF) to establish Financial Instruments (revolving funds: making loans and receiving repayments, making more loans) provides a more sustainable alternative to non-returnable grants to incentivise building refurbishments for energy efficiency.
In the participating regions, project partners will promote new policies, or improvement of existing policies, to create financial instruments. The project will focus on Financial Instruments (FIs) supported by ERDF funds or national equivalents, and integrated with EC funding initiatives such as EFSI (European Fund for Strategic Investments), national funds, or public-private partnership investments.
Each region will establish a stakeholder working group to develop a policy action plan, to be in place by early 2018. A series of Interregional events during this period will enable partners and their stakeholders to share knowledge and exchange experience in support of their policy development activities. A 2 year implementation period will follow. Experiences and lessons learned will be captured in case studies and summary reports.
The partnership is led by the Extremadura Energy Agency (Agenex), Spain and also includes:
- General Direction of Industry, Energy and Mines, Extremadura Regional Government, Spain
- Plymouth City Council, UK
- Western Macedonia Region, Greece
- City of Prague, Czech Republic
- University Centre for Energy Efficient Buildings, Czech Technical University in Prague, Czech Republic
- Climate Protection and Energy Agency of Baden Württemberg, Germany
- INTELI – Intelligence in Innovation, Innovation Centre, Portugal
- Autonomous Province of Trento, Italy
For more information email email@example.com or call 01752 477117.