Modelling Innovative Financial Instruments for Sustainable Energy.
On October 5th it took place at the Andalusian Agency for the Environment and Water in Seville, the first Peer to Peer meeting, as a part of the Transnational Exchange Program of the project Empowering.
It was attended by representatives of several regional partners and experts in financing energy projects.
Among these experts were Mr. Valerio Micale, Senior Analyst and Project Manager in the Climate Policy Initiative (CPI). CPI’s mission is to help nations grow while addressing increasingly scare resources and climate risk. Climate Policy Initiative works to improve relevant energy and land use policies, but also the business practices around the world, focusing especially on finance. Mr. Micale presented to the audience some very interesting data related to the total climate finance, that reached the level of 391 billion dollars in 2014, growing with approximately 18% compared to 2013. He also introduced us to The Lab, a CPI’s program that seeks ideas to scale up finance for mitigation and adaptation in developing countries.
The second speaker of the panel was Mrs. Effie Korma from the Center for Renewable Energy Sources and Saving (CRES). CRES is the Greek national entity for the promotion of renewable energy sources, energy rational use and energy conservation. CRES implements innovative projects and significant activities for the promotion and market penetration of new energy technologies. Mrs. Korma presented the results of EEA 2009-2014: Area of Renewable Energy in Greece, on behalf of the program operator. The EEA-FM aims to strengthen the bilateral relation and increase cooperation between the donor states and the beneficiary ones. In case of Greece, the EEA-FM represented 85% of the investment, while the Greek public investment program covered the other 15%. Almost 90% of the allocation covered demonstration projects for a less carbon dependent economy, and the eligible entities were public entities. In August 2015, 10 projects started and are to be completed by April 2017.
The third speaker was the Head of the Financial Engineering sector at Artigiancassa, Mrs. Silvia Marsili. Artigiancassa is a financial intermediary that manages public funds to support local economies enhancing a higher level of competitiveness among small and medium firms. Artigiancassa has a solid expertise in state aid policy, European, national and regional financial instruments for SMEs, but also in soft loans, public guarantees and counter guarantees funds. Mrs. Marsili presented us the way Marche Region selected Artigiancassa as an implementing body, therefore as a fund manager for FEM (Energy and Mobility Fund). The FEM is providing low interest loans for the implementation of measures aimed at increasing energy efficiency of public buildings and lighting networks, but also for supplying low-emission vehicles for public transportation. On average, 40% of the resources come from a grant, around 35% from a soft loan, and the rest is from other sources.
The last speaker was Mr. Javier Ordóñez who coordinates the international projects area in the Extremadura Energy Agency (AGENEX). He presented us two projects: FINERPOL and REHABILITATE. FINERPOL, received 1,6 million Euros from ERDF, it comprises 9 partners and aims at supporting energy renovation of buildings, but using new policy and financial instruments. The regional and structural funds were integrated with other funding, such as the EFSI (the Junker Plan), or with the investment tools of the European Investment Bank.
REHABILITATE is another project developed among 9 partners that is creating a transnational platform for training, mentoring, analysis and pilots. Within the REHABILITATE, ELENA (European Local Energy Assistance) technical assistance is provided, in order to promote investments in energy efficiency and renewable energies.
Mr. Ordóñez also presented the EnerInvest, the Spanish Sustainable Energy Financing Platform that will offer technical, legal and financial solutions to sustainable energy projects.