Supporting Innovative Schemes in the MED Area
SISMA aims to develop innovative financing schemes that leverage European Structural Funds (and other public funds available to the regional or local administrations) on private financial resources to finance investment projects that lead to significant energy retrofits of public buildings. In particular the innovative schemes will aim at mobilizing private resources through ESCOs to finance investments with longer paybacks (max 10 years) in energy retrofit of public buildings. Viable and sustainable innovative financing schemes for energy investments with long term payback are necessary in order to abridge the barriers that hinder the business which is traditionally characterized by:a)ESCOs keep on following the “low hanging fruit” approach, focusing only on quick results;b)Public Administrations will keep on using ERDF in the “traditional way”, without taking fully advantage of the leverage factor to mobilize private financing through innovative contracts as EPC, since in the past this approach has been unsuccessful for energy investments with long term payback. Each member state will focus on a specific category of public buildings (office buildings, schools, gyms ...) in close coordination with all the partners. Outlined Schemes, with a particular focus on the ones leveraging the European Structural Funds, can be well replicated anywhere in the EU and will form the backbone on which to articulate the future demands of Development Assistance Projects.