ESI Europe 2.0 launched in Croatia, Greece and Slovakia
The Basel Agency for Sustainable Energy (BASE) Switzerland, the Društvo za oblikovanje održivog razvoja (DOOR), the Centre for Renewable Energy Sources and Saving (CRES), and the Slovak Innovation and Energy Agency (SIEA) are proud to announce the launch in September 2021 of a three-year project aimed at rolling out the successful Energy Savings Insurance (ESI) Model in Croatia, Greece, and Slovakia. The ESI Europe 2.0 project has received funding from the European Union’s Horizon 2020 research and innovation programme.
The ESI model aims to scale up investments in energy efficiency (EE), facilitate the flow of financing for relevant technology solutions and address the large untapped market potential. The ESI model targets small and medium-sized enterprises (SMEs) and creates the conditions for them to upgrade specific old inefficient technologies to new EE technologies.
The ESI Europe 2.0 projects builds on and expands the ESI Europe project being rolled out in Italy, Portugal and Spain. The ESI model has previously been successfully implemented in Colombia and Mexico, and is also being developed or planned in ten other countries in Latin America, and Asia. The ESI model was recognised by the Global Innovation Lab for Climate Finance as one of the most promising instruments to mobilise private sector investments in energy efficiency. ESI also features in the G20 Energy Efficiency Investment Toolkit and in the Swiss Sustainable Finance compendium of instruments for Financing the Low-Carbon Economy.
The ESI model comprises financial and non-financial elements designed to work together to build trust and credibility among key actors and to reduce the risk for SMEs to invest in energy efficiency. The model consists of four main elements: a standardised contract, an energy savings insurance, a technical validation process and a financing structure.
The ESI Europe 2.0 project starts with the development of a market assessment and continues with the adaptation of ESI model elements to the context of each of the three countries with identification and engagement of key actors in Croatia, Greece and Slovakia. Marketing and promotion of the GoSafe with ESI brand, improving the ESI Europe toolkit and the creation of the ESI Europe Alliance are also part of the activities to be developed.
The implementation of the ESI Europe 2.0 project will mobilise investments in energy efficiency and allow the reduction of energy consumption while improving performance and increasing the environmental sustainability of the operations of companies, especially SMEs. By using the elements of the ESI model, the investment in new energy efficient equipment results in savings, which are ensured and insured. The implementation of the ESI Europe 2.0 project also contributes to and synergises with the European Green Deal activities for a climate neutral continent by 2050.
More information and updates to be shared soon, stay tuned!