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"Energy Efficiency in residential buildings in France" project, pre-financed by EIB, gets EFSI backing

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On 22 July 2015, the College of Commissioners put the final building blocks in place to kick-start investment in the real economy. The package of measures agreed ensure that the European Fund for Strategic Investments (EFSI) is up and running by early autumn 2015, keeping the ambitious timetable set by President Jean-Claude Juncker to implement the Investment Plan for Europe.

 

Among this measures is the confirmation of the projects pre-financed or ”warehoused” by the European Investment Bank (EIB), which will receive the backing of the EFSI guarantee. In line with the European Council conclusions of December 2014, which invited the EIB to "start activities by using its own funds as of January 2015", the latter announced several projects to be pre-financed in the context of the Investment Plan for Europe while the adoption of the EFSI Regulation was pending. One of the projects receiving the EFSI green light concerns investments in energy efficiency renovation in private homes in France, aiming at reducing energy consumption.

 

 

Project description

 

The programme aims to promote energy efficiency in the French housing stock through the funding of certain regional / local initiatives supporting energy renovation of private residential buildings. With the possibility of using renewable energy, it will enable substantial reductions in energy consumption and greenhouse gas emissions. To facilitate the decision making of the housing owners, the promoters usually offer a "packaged" solution covering technical and administrative support for energy renovation and, according to demand, also the financing of these investments over a long period through financial intermediaries or through a third party financing. The co-financing will be channeled to home owners through public or public private entities or financial intermediaries.

 

 

For further information, please visit the relevant European Commission website: http://europa.eu/rapid/press-release_IP-15-5420_en.htm

Also, visit the relevant EIB website: http://www.eib.org/projects/pipeline/2015/20150188.htm?lang=en