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EUSEW Developing and financing local and regional sustainable energy investments Juan Alario

EUSEW Developing and financing local and regional sustainable energy investments Juan Alario Associate Director European Investment Bank Local and regional renewable energy investment 2020 and beyond: the need for a level playing field Committee of the Regions 27 June 2013.

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EUSEW Developing and financing local and regional sustainable energy investments Juan Alario

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  1. EUSEW Developing and financing local and regional sustainable energy investments Juan Alario Associate Director European Investment Bank Local and regional renewable energy investment 2020 and beyond: the need for a level playing field Committee of the Regions 27 June 2013

  2. Large investment potential in low carbon technologies at local and regional level • From EU Commission, about 50bn EUR/year for RE and 85 bn EUR/year for EE • A substantial part of the EE and small scale RE investment potential needs to be developed • RE investments declining • EE investments low today, but the new EE directive should boost them

  3. EE and RE contribute to key objectives • Key sectors to achieve the EU energy and climate objectives • Contribution to economic growth and particularly to employment generation

  4. Regional and local authorities can play a substantial role to promote EE and small RE • Lowering the barriers to these investments, in particular providing information, TA or regulatory measures (split incentives, etc.) • Contributing to developing local capacity to deliver these investments, particularly by SMEs • Facilitate financing, including grants, when required • Developing large investment programmes, mainly in the public sector

  5. Developing large local/regional EE&RE investment programmes requires: • Creation of a project implementation unit • Improve project’s bankability: • Reduce risks • Bundle small projects • Standardisation • Improve profitability: lower transaction costs and use grants only when required • Facilitate the financing of these schemes

  6. The EIB is supporting local and regional initiatives • Global and framework loans for small projects through Financial Intermediaries • For large projects direct loans from the EIB

  7. EIB develops joint initiatives with the Commission • Elena: TA to support local regional authorities for project preparation • EEEF: Investment fund to support Elena type projects • Jessica: urban development funds using Structural funds • New initiative: Deep Green platform: different financial instruments to support EE and small RE

  8. Example: Framework loan for small EE&RE

  9. Example: JESSICA / ELENA - London • London Energy Efficiency Fund (100M GBP) • Waste Urban Development Fund (UDF) • Energy Efficiency UDF (mainly RE:FIT) • ELENA supports RE:FIT • ELENA supports 2.9 M EUR • Develop contractual framework for ESCOs public buildings • Target investment: 115 M EUR

  10. Conclusions • Local and regional authorities can play a substantial role to develop the large EE&RE investment potential • However, they need to develop new approaches in order to mobilise the substantial investments required • EIB can contribute with its finance and expertise

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