The project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement no. 846569.
Enhancing at an Early Stage the Investment Value Chain of Energy Efficiency Projects
Triple-A has a practical result-oriented approach, seeking to identify which investments can be considered as Triple-A investments, fostering sustainable growth, while also having an extremely strong capacity to meet their commitments, already from the first stages of investments generation and preselection/ pre-evaluation.
The focus lays in answering the following questions:
- How to assess the financing instruments and risks an early stage?
- How to agree on the Triple-A investments, based on selected key performance indicators?
- How to assign the identified investment ideas with possible financing schemes?
In particular, the Triple-A scheme is introduced, for identifying “Triple-A” energy efficiency investments, aiming to reduce the respective time and effort required at the crucial phase of the investments conceptualization, as well as to increase transparency and efficiency of respective decision making. By introducing this new scheme, Triple-A seeks to make energy efficiency investments more transparent, predictable and attractive for investors / financiers and project developers.
The Triple-A scheme comprises three critical steps, with the following main outputs:
Step 1 - Assess: Based on Member States risk profiles and mitigation policies, including a Web based database, enabling national and sectoral comparability, market maturity identification, good practices experiences exchange, reducing thus uncertainty for investors. An assessment tool, having a Go / No-Go character, will be developed in this step, leading to a pre-screening of investment ideas at EU level, in accordance to the country context and sectors specific characteristics, also taking into consideration the categorisation of financing instruments and risk mitigation strategies. It is foreseen that a pipeline of at least 100 energy efficiency financially attractive projects will emerge through this step.
Step 2 - Agree: Based on standardised Triple-A tools, efficient benchmarks, and guidelines, translated in consortium partners’ languages, accelerating and scaling up investments. In Step 2, key performance indicators will be selected to agree on the Triple-A investments per case-study country from the pipeline of the previous step. The key performance indicators selected in this step, along with an efficient benchmarking, will enable the agreement on the 40-80 Triple-A investments that will be produced from this step.
Step 3 - Assign: Based on in-country demonstrations, replicability and overall exploitation, including recommendations on what energy efficiency investments are realistic and feasible in the national and sectoral context, as well as on how they could be financed in practice in the short or medium term. In-country demonstrations of the investments, through the standardised Triple-A tools, are envisaged. The previous steps have already determined whether an examined project fiche is feasible and realistic, and what form it should take. This step is the match making step of the examined investments idea with the possible financing schemes. It is the last procedure that shapes the pathway to be followed by involved parties to achieve delivery (contracts, underwriting procedures, etc.). This step will result to the elaboration of 50 project fiches.
CASE STUDY COUNTRIES
The eight Triple - A case study countries were selected to promote diversity across a number of factors, including: a leading European economy (Germany), an innovation front-runner in energy (The Netherlands), a weak economy, went through one of the longest and most severe recessions (Greece), an economy with slow economic recovery (Italy), a diversified economy with a strategic geographical location having some of the largest European firms (Spain), a country that has experienced one of the fastest economic recoveries in Europe (Lithuania), a progressing country with a once sceptical stance towards low-carbon development (Czech Republic), and a country, recovering from a slow transition to a market economy, with growing regional strategic role and significant ambition towards EU processes (Republic of Bulgaria).
- NATIONAL TECHNICAL UNIVERSITY OF ATHENS - NTUA
- ABN AMRO BANK NV
- INSTITUTE FOR EUROPEAN ENERGY AND CLIMATE POLICY STICHTING
- JRC CAPITAL MANAGEMENT CONSULTANCY & RESEARCH GMBH
- GFT ITALIA SRL
- CREARA CONSULTORES SL
- ADELPHI RESEARCH GEMEINNUTZIGE GMBH
- TRAPEZA PEIRAIOS AE
- UNIVERSITY OF PIRAEUS RESEARCH CENTER
- SEVEN, THE ENERGY EFFICIENCY CENTER Z.U.
- PUBLIC INVESTMENT DEVELOPMENT AGENCY
- NATSIONALEN DOVERITELEN EKOFOND
Start date: 1/09/2019 - End date: 28/02/2022