The EIB, the world's first and largest issuer of green bonds,
is the long-term lending institution of the European Union owned by its 28 Member States. The EIB aims to dedicate at least 25 pct of its investments to climate change mitigation and adaptation, supporting low-carbon growth with climate resilience. In 2018, and for the ninth consecutive year, the EIB exceeded its climate finance target, providing €16.2 billion to promote climate action.
(Source: European Commission, PR, 8 Aug., 2019) Contact: European Commission, www.eceuropa.eu
More Low-Carbon Energy News European Investment Bank , Wind,
Ellomay expects the Talasol Project's total capital expenditure to be approximately €228 million of which an aggregate amount of approximately €131 million is to be provided by a term loan under the project finance obtained by Talasol from Rabobank, ABN AMRO and Deutsche Bank and the European Investment Bank. (Source: Ellomay, COMPELO, 2 May, 2019) Contact: Ellomay Capital, www.ellomay.com;
Talasol Solar, www.bloomberg.com/profiles/companies/1507005D:SM-talasol-solar-sl
More Low-Carbon Energy News Solar, PV, Ellomay,
The energy efficiency work will include; airport lighting systems upgrades; thermal insulation in terminals will be optimized; HVAC system upgrades; and creation of a solar photovoltaic plant for on-site use is planned in Madrid. (Source: Aena, Int'l. Airport Review, April, 2019) Contact: Aena, www.aena.es/en/corporate/company-profile.html; EIB, www.eib.org
More Low-Carbon Energy News European Investment Bank, Energy Efficiency ,
Investors included
Chinese wind turbine maker Xinjiang Goldwind Science & Tech Co Ltd., Norwegian oil and gas major Equinor ASA and the venture capital arm of Legal & General Group Plc.
The company has raised mare than £76 million over the last five years, including €15 million ($17 million) in financing from the European Investment Bank (EIB). (Source: Oxford PV, Renewables, 15 Mar., 2019) Contact: Oxford PV, +44 1865 951 500, info@oxfordpv.com, www.oxfordpv.com
More Low-Carbon Energy News Oxford PV, Solar, EIB, perovskite solar cell,
Project development services will mostly be directed towards households and homeowner associations and other organizations, such as financial institutions (including commercial banks). Public entities may also be supported with the implementation of large-scale energy rehabilitation programs. The grants are distributed through commercial banks.
In December, 2018,
EU member states agreed to cut energy consumption by 32.5 pct by 2030 compared to 1990. The target implies huge investments, especially in residential buildings, which account for around 40 pct of the EU's final energy demand.(Source: EIB, Budapest Business Journal, Feb., 2019)Contact: European Local Energy Assistance (ELENA), www.eib.org/en/products/advising/elena/index.htm
More Low-Carbon Energy News EIB, Energy Efficiency,
The new loans are intended for individuals, the self-employed, small and medium-sized enterprises (SMEs), mid-caps, and public sector bodies. The credit line has been set at €12.5 million for SMEs and individuals, and a maximum of €25 million for mid-caps, with maturity periods between two to eight years.
(Source: European Investment Bank, CleanTechnica, 13 Feb., 2019) Contact: European Investment Bank, www.eib.org; CaixaBank, www.caixabank.com
More Low-Carbon Energy News European Investment Bank, Climate Change,
Earth Capital's Nobel Sustainability Fund was invested in UKEEI alongside the Green Investment Bank, Earth Capital investee SDCL EEco (SDCL), the European Investment Bank and other institutional LPs.
Earth Capital made a series of pioneering investments in the UK Energy Efficiency market including LED lighting, Combined Heat and Power and biomass heat. Companies in the UK benefiting from the Fund's investment include Santander Bank, Citigroup, Moy Park, NCP, and St Bartholomew's Hospital, all of which had energy efficient products installed by the Fund.
(Source: Earth Capital, Private Equity Wire, 7 2019) Contact: Nobel Sustainability Growth Fund, Earth Capital UK Ltd., Gordon Power, CEO, info@earthcapital.uk,
www.earthcapital.uk/nobel-sustainability-growth-fund
More Low-Carbon Energy News Energy Efficiency, Earth Capital,
The platform will provide long-term sustainable financing to energy service companies, covering the default and performance risks related to EPC and PBC as well as supporting the best practices and contract standardization to facilitate energy efficiency promoters.
This innovative approach, led by CMZRB, involves key stakeholders in the energy efficiency market in the Czech Republic and will be supported by key EIB Advisory experts. Support for increasing energy efficiency investments is a priority for the EIB and is in line with EU policies. The EIB supports projects that contribute to reaching the EU's goal of increasing energy efficiency in the Union by 32 pct by the year 2020.
(Source: EIB, Emerging Europe, 23 Jan., 2019) Contact: EIB, www.eib.org
More Low-Carbon Energy News European Investment Bank, Energy Efficiency,
Technically, the operation is the first guarantee under the Lithuanian Leveraged Fund that was established in 2016 to maximise the funds available for the modernization programme, which is a key government priority. With it, the Lithuanian financing situation has seen an evolution from using financial intermediaries as agents to disburse ERDF and national funds, to an ERDF-backed guarantee to banks, who will use only their own funds to give out modernization loans. This final step will greatly improve the leverage of this financing, maximising the number of households that can receive cheaper loans. (Source: EIB, Emerging Europe, Jan., 2019)Contact: EIB, www.eib.org; Siaulių Bankas, www.sb.lt
More Low-Carbon Energy News European Investment Bank, Energy Efficiency,
The funding, which triples the overall funding for the REPP, could unlock an extra £156 million of private finance into renewable energy markets in Africa over the next five years, according to a release from UK Energy and Clean Growth minister Hon.Claire Perry.
The new investment adds to the £48 million previously committed to the REPP programme, which is already supporting 18 renewable energy projects in a range of countries from Tanzania to Burundi.
REPP is an innovative funding platform created by the European Investment Bank and the UNEP, and funded by the UK Department of Business, Energy and Industrial Strategy. REPP provides early-stage funding, advisory services, and results-based finance for the development and construction of small and medium-scale renewable energy projects in sub-Saharan Africa.
(Source: UK Energy and Clean Growth Ministry, 11 Dec., 2018) Contact: UK Energy and Clean Growth Ministry, Hon. Claire Perry, Minister, www.gov.uk/government/people/claire-perry; Renewable Energy Performance Platform, www.africa-eu-renewables.org
DNV GL's technical due diligence reportedly helped secure the €60 million from the European Investment Bank so the project could become the world's first project-financed floating wind farm.
The project is being developed by Windplus and will incorporate three 8.4-MW MHI Vestas turbines, the largest and most powerful wind turbines ever installed on a floating foundation platform.
Windplus is a subsidiary of EDP Renewables, Repsol and Principle Power.(Source: DNG GL, Windpower Eng., 7 Nov., 2019)Contact: EIB, www.eib.org; Windplus SA, www.offshorewind.biz/tag/windplus; EDP Renovaveis, www.edpr.com;
DNV GL, Liv Hovem, CEO, +47 6757 9900, www.dnvgl.com
More Low-Carbon Energy News Windplus, DNV GL, Floating Wind, Offshore Wind, ,
The project will also be supported by the InnovFin Energy Demonstration Project facility, which is funded under the EU's Horizon 2020 research and innovation programme , and an additional €29.9 million from the EU NER300 programme, plus up to €6 million from the Government of Portugal, through the Portuguese Carbon Fund.
Until 2020, "InnovFin -- EU Finance for Innovators" offers a range of tailored products which will make available financing in support of research and innovation (R&I) by small, medium-sized and large companies and the promoters of research infrastructures.
(Source: European Investment Bank, EDP Renewables, 19 October, 2018) Contact: EIB, www.eib.org; Windplus SA, www.offshorewind.biz/tag/windplus;
EDP Renovaveis, www.edpr.com
More Low-Carbon Energy News European Investment Bank, Wind, EDP Renovaveis, Repsol, Windplus S.A,
The MoU is in line with United Nations Sustainable Development Goals as well as the European Union and Indonesia's climate action agendas.
The focus of the European Investment Bank's operations on climate mitigation and adaptation will provide additional opportunities for important projects for low carbon development, resilient cities and infrastructures.
(Source: Ministry of National Development Planning of the Republic of Indonesia, DevDiscourse, 13 Oct., 2018) Contact: Ministry of National Development Planning of the Republic of Indonesia, +62 021-319 6207, www.bappenas.go.id; EIB, www.eib.org
More Low-Carbon Energy News European Investment Bank, Green nt Infrastructure, Climate Change Mitigation, Climate Change Adaptation,
Global Urbis is a ground-breaking partnership to enhance climate action in cities around the world. The Land Degradation Neutrality Fund finances climate adaptation and land restoration measures through projects that will benefit some of the most vulnerable communities.
The EIB is partnering with the ISA to support the expansion of solar energy in India and other regions where solar power is one of the most abundant renewable energy sources but where technologies, funding and expertise are often lacking.
The ISA aims to raise $1 trillion by 2030 from public and private investors to invest in such solar projects. In 2017, the EIB provided €1.05 billion of new financing for solar energy projects around the world, and is currently finalizing a new €200 million credit line for renewable energy projects across India. Over the last five years, the EU Bank provided more than €21 billion for renewable energy investment worldwide, including €2.5 billion in photovoltaic and concentrated solar power projects.
The South Africa-based URBIS initiative comprises a global alliance of partners aspiring to reconcile urban development with the conservation of biodiversity and the sustainable use of natural resources; a quest to engender cities with greater social-ecological resilience in the context of global environmental change. The initiative aligns with broader international efforts to implement the ecosystem approach and build inclusive green urban economies.
(Source: EIB, TECH2, 27 Sept., 2018) Contact: European Investment Bank, www.eib.org;
International Solar Alliance, www.intsolaralliance.org; Global Urbis, +27 21 202 0383,
+27 21 202 0388,
urbis@iclei.org,
http://urbis.org
More Low-Carbon Energy News European Investment Bank, International Solar Alliance, Solar, Climate Change,
The aim of the Global Climate City Challenge is to strengthen urban climate action projects in regions most likely to be affected by a changing climate, and those that are not necessarily able to fund the necessary resilience themselves, such as those throughout Africa, Asia, and Latin America. Projects will be bolstered using best-practice and technical assistance intended to offset the risks and impact of climate change, enhance the impact of these projects, and improve the financial sustainability of first-time projects. The City Challenge will look to transform financing for low-carbon and climate resilient infrastructure by mobilizing significant levels of private investment, as well as increasing support from public resources.
The City Challenge will also benefit from the involvement of FELICITY, a technical assistance program for low-carbon infrastructure projects in cities which is jointly led with the German Corporation for International Cooperation (GIZ), and which the German Federal Ministry of the Environment (BMU) expects to expand in the near-future.
The Global Climate City Challenge will look to support climate action projects in six cities in the coming weeks under an initial pilot program which will include efforts to enhance the bankability of projects as well as increasing financing support, sharing experience of smart-city technology, and innovative urban financing.
(Source: EIB, Sept., 2018)
Contact: Global Climate City Challenge, GlobalClimateCityChallenge@eib.org, www.eib.org/en/projects/sectors/urban-development/city-call-for-proposal/index.htm
Green Bond pledge adherents agree that climate change poses an existential threat and that the rapid growth of a green bonds market will not only meet the unique challenges the world faces, but will do so while making communities more economically competitive, prosperous, and productive.
Green bonds may be sold by governments, as well as by private entities, to finance projects that have positive environmental or climate attributes. The projects can range from clean transportation to renewable energy.
The green bond market started in 2007 with bonds issued by the World Bank and the European Investment Bank. By 2017, both California and New York had issued more than $4 billion in bonds to finance such things as clean water projects, green schools, mass transit, land preservation, and green housing. The state is now looking to build on that start and help grow a much more robust market for green bond financing.
Download a copy of the Green Bonds Pledge and other details HERE.
(Source: California Treasurers Office, Lake County News, Aug., 2018) Contact: California Treasurers Office, (916) 653-2995, www.treasurer.ca.gov
More Low-Carbon Energy News Green Bond, Climate Change,
The EIB financing, together with another €50 million ($58.5 million) loan from various financial institutions, will be provided via a Project Finance arrangement for the construction and operation of this new 50 MW facility.
The EIB is the European Union's bank. We are the only bank owned by and representing the interests of the European Union Member States. We work closely with other EU institutions to implement EU policy.
The EIB is the world's largest multilateral borrower and lender providing finance and expertise for sustainable investment projects that contribute to EU policy objectives. Although more than 90 pct of EIB activity is in Europe, the EIB is a major investor worldwide. (Source: EIB, 30 July, 2018) Contact: Greenalia SA, +34 902 905 910, administracion@greenalia.es,
www.greenalia.es; EIB, www.eib.org
More Low-Carbon Energy News EIB, Greenalia SA, Biomass, Woody Biomass, Forest Biomass,
The MDBs' latest joint report on climate financing said $27.9 billion -- 79 pct of the 2017 total -- was devoted to climate mitigation projects that aim to reduce harmful emissions and slow down global warming. The remaining 21 pct or $7.4 billion of financing for emerging and developing nations was invested in climate adaptation projects. In 2016, total MDB climate financing totaled US$27.4 billion.
The MDBs, which include the African Development Bank , the Asian Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank , the Inter-American Development Bank Group (IDB and IDB Invest) and the World Bank Group (World Bank, IFC and MIGA), account for the vast majority of multilateral development finance. (Source: IDB, Caribbean Life, 23 June, 2018) Contact: IDB,
Juan Pablo Bonilla, Climate Change and Sustainability Sector Manager, Therese Turner-Jones, GM Caribbean Country Department, www.iadb.org
More Low-Carbon Energy News IDB, Climate Change, Climate Change Mitigation, Climate Finance,
The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) have already pledged to provide €215 million for the project, partially through a syndicated loan.
The wind farm is being developed by Vetroelektrane Balkana, owned by Tesla Wind, a joint venture between an Abu Dhabi-based renewable energy developer Masdar and Cibuk Wind Holding, a branch of the U.S.-based wind energy developer Continental Wind Partners.
The GE 57 turbine park will generate sufficient energy for approximately 113,000 households.
(Source: Business Insider UK, Reuters, 5 June, 2018) Contact: European Investment Bank, Green for Growth Fund, www.ggf.lu/about-green-for-growth-fund; EIB, www.eib.org; Vetroelektrane Balkana, www.wpc.rs/en
More Low-Carbon Energy News EBRD, Wind, EIB,
The project secured funding from four banks:
the European Investment Bank (EIB); MUFG Bank, BNP Paribas and AIB. will finance the wind farm with long-term debt. The EIB is in for half of the project's expected total cost of €160 million. It is the EIB's largest ever investment in renewable energy generation in Ireland and the largest financing in the country to date under the EIB Investment Plan for Europe. (Source: Bord na Mona, Irish Farmers Journal, May, 2018) Contact: Bord na Mona Plc, Mike Quinn, CEO, Patrick Madigan, Bioenergy Division, +353 45 439000, www.bordnamona.ie; Investment Plan for Europe, www.consilium.europa.eu/en/policies/investment-plan
More Low-Carbon Energy News Wind, Bord na Mona, EIB,
The new Guide follows the Eurostat Guidance note on the revised treatment of Energy Performance Contracts in government accounts, issued in September 2017, and explains its practical application, making use of technical assistance resources from the European Investment Advisory Hub (EIAH).
The Guide explains in detail how Energy Performance Contracts work and gives a clear overview of the potential impact on government finances. This will help Member States and other stakeholders to better understand the impact that the different features of these contracts have on the classification of the investment undertaken, on or off government balance sheet.
A major priority is energy efficiency as a part of a low-carbon economy. Here, so-called Energy Performance Contracts, or EPCs for short, can help mobilise private investment and expertise in energy efficiency in public sector buildings. Energy Performance in buildings is part of the legislative package "Clean Energy for all Europeans" -- a key element for achieving a resilient Energy Union and a forward-looking climate change policy.
The Practitioner's Guide on the Statistical Treatment of Energy Performance Contracts is available HERE. (Source: EuroStat, European Commission, PR 8 May, 2018) Contact: European Commission, Sara Soumillion, sara.soumillion@ec.europa.eu; EIB, Tim Smit , t.smit@eib.org, www.eib.org
More Low-Carbon Energy News Energy Efficiency, Energy Performance, Energy Management, European Investment Bank,
The Goya project, which is backed by shareholders Mirova, General Electric, Engie, and Forestalia, which is also active in PV and biomass projects. The Goya Project is the first wind power concession in Spain to be awarded without public subsidies or incentives. (Source: EIB, Forsetralia, April, 2018) Contact: Forestralia, www.forestalia.com; European Investment Bank, www.eib.org
More Low-Carbon Energy News European Investment Bank, Wind,
The risk protection will cover 80 pct of Piraeus Bank's potential losses under these loans up to a maximum agreed amount. Piraeus Bank will also benefit from the technical and financial expertise of the EIB during the start of the operation for assistance in the identification and appraisal of energy efficiency investments and capacity building support.
The new cooperation with Piraeus Bank in Greece represents the eighth partnership with a European bank to support energy efficiency investments under the Private Finance for Energy Efficiency financial instrument. The European Investment Bank engagement is supported by the European Commission, under the LIFE programme. In 2017, the European Investment Bank provided more than €4.1 billion for new energy efficiency investment worldwide.
(Source: European Investment Bank/Luxembourg, 26 Mar., 2018) Contact: EIB, www.eib.org; Piraeus Bank, www.piraeusbank.gr/en
More Low-Carbon Energy News European Investment Bank , Energy Efficiency,
The EIB notes it is committed to increasing support for climate related investment, including renewable energy, in developing and emerging economies to represent 35 pct of overall financing activity.
New EIB financing for solar investment in 2017 included backing for new projects in India, Mexico and Peru, as well as 13 EU countries.
Since 2002 the EIB has financed more than €6.35 billion of new solar energy investment.
(Source: EIB, PR, 9 Mar., 2018) (Source: EIB, www.eib.org
More Low-Carbon Energy News European Investment Bank, Solar,
The funding is expected to help establish a small business renovations market worth up to €120 billion, support up to 220,000 jobs, and help lift 3.2 million European families out of energy poverty by taking some of the risk out of energy efficiency investments in the buildings sector and offering assistance with project development for households unable to finance and execute residential energy efficiency projects. (Source: Eurostat, European Commission, PR, Feb., 2018) Contact: Eurostat, http://ec.europa.eu/eurostat; European Investment Bank, www.eib.org
More Low-Carbon Energy News European Investment Bank, EIB, Energy Efficiency,
The funding package could mobilize an additional €2 billion in funding as Member States also make use of other EU funding sources.
In related news, Eurostat announced that Europe's 2016 primary energy consumption was 4 pct above the EU's 2020 target to reduce energy consumption by 20 pct below business as usual projections by 2020. Final energy consumption exceeded the target by 2 pct. (Source: EuroStat, European Commission, PR, IISD, 5 Feb., 2018) Contact: Eurostat, http://ec.europa.eu/eurostat
More Low-Carbon Energy News European Commission, Energy Efficiency, Energy Consupmtion,
Yes Bank was the first bank in India to launch a green bond back in February 2015. The bank has raised at least $250 million through three green bond issues in collaboration with International Finance Corporation and FMO, the development bank of Netherlands. (Source: Yes Bank, EIB, CleanTechnica, 1 Jan., 2017) Contact: European Investment Bank, www.eib.org;
YES Bank, Rana Kapoor, CEO, www.yesbank.in
More Low-Carbon Energy News Yes Bank, European Investment Bank, Wind, Solar, India Renewable Energy, Wind, Solar,
The GGF was initiated as a public-private partnership in December 2009 by German Development Bank KfW and the European Investment Bank (EIB). It invests in measures designed to cut energy use and CO2 emissions by a minimum of 20 pct in the 19 countries which it covers. (Source: European Investment Bank, Green for Growth Fund, SeeNews, 12 Oct., 2017) Contact: European Investment Bank, www.eib.org;
Green for Growth Fund, www.ggf.lu
More Low-Carbon Energy News European Investment Bank, Green for Growth Fund, Energy Efficiency ,
Oxford PV acquired the Brandenburg facility in late 2016.
(Source: Oxford PV, Contact: Oxford PV, Renewables, 2 Oct., 2017) www.oxfordpv.com; European Investment Bank, www.eib.org
More Low-Carbon Energy News Oxford Photovoltaics, PV, European Investment Bank,
Turbine delivery and commissioning is slated for the first half of 2018.
(Source: Vestas, Economic Times, 31 Aug., 2017)
Contact: Vestas, +45 9730 0000, www.vestas.com
More Low-Carbon Energy News Vestas, Wind,
NREA also reports it has arranged a €115 million loan from the European Investment Bank (EIB) to finance the wind farm project which is expected to get underway in 2018.
The Egyptian government plans to generate 20 pct of the country's electricity from renewabltoe sources by 2020.
(Source: New and Renewable Energy Authority , DN Egypt, 25 July, 2017) Contact: Egypt New and Renewable Energy Authority, +20 0 22725891, www.nrea.gov.eg; EIB, www.eib.org
More Low-Carbon Energy News Wind, Offshore Wind, European Investment Bank,
The EIB commits at least 25 pct of its lending portfolio to low-carbon and climate-resilient growth around the world, and in 2016 provided €16.9 billion to support environmental projects. Further, on climate action, the EIB exceeded its lending target for the seventh year in a row, providing €19 billion.
(Source: EIB, July, 2017) Contact: EIB, www.eib.org
More Low-Carbon Energy News European Investment Bank ,
The EIB commits at least 25 pct of its lending portfolio to low-carbon and climate-resilient growth around the world, and in 2016 provided €16.9 billion to support environmental projects. Further, on climate action, the EIB exceeded its lending target for the seventh year in a row, providing €19 billion.
(Source: EIB, 18 July, 2017) Contact: EIB, www.eib.org
More Low-Carbon Energy News EIB, Climate Change, Climate Change Mitigation,
The European Investment Bank (EIB) is the financing institution of the European Union (EU). Created by the Treaty of Rome, its shareholders are the EU Member States and its Board of Governors is composed of the Finance Ministers of these States. The EIB enjoys its own legal personality and financial autonomy within the EU system. The mission of the EIB is to contribute, by financing sound investment, to the policy objectives of the EU, as laid down in its statutes and in decisions of the European Council.
The EIB contributes towards the integration, balanced development and economic and social cohesion of the EU Members by raising substantial volumes of funds and offering fav ourable terms towards financing capital projects in accordance with EU objectives. Outside the EU , the EIB implements the financial components of agreements concluded under European development aid and cooperation policies.
Download the European Investment Bank Carbon Footprint Report 2016
HERE. (Source: EIB, May, 2017) Contact: EIB, www.eib.org
More Low-Carbon Energy News European Investment Bank, Carbon Footprint,
The aim of the new EIB/Commission instruments is to generate €1 billion or more in energy efficiency investments and contribute to EU objectives related to cutting CO2 emissions and fighting climate change.
Projects seeking funding must be connected to the energy efficiency of buildings or productive structures, district heating or district cooling plants, public lighting infrastructure, or high efficiency heat and power cogeneration plants. (Source: EIB, Automotive World, 30 Mar., 2017)
Contact: European Investment Bank, Jonathan Taylor, VP, +352 43 791, www.eib.org; BPER Banca Group, www.bper.it
More Low-Carbon Energy News European Investment Bank, Energy Efficiency,
EIB contributed €40 million ($43.2 million) to the fund, while Eiffel Investment Group is providing €100 million ($108.0 million)and several unspecified public and private institutional investors are now conducting due diligence. The fund is expected to total €200 million.
The credit lines granted by the fund will have a maturity of 6 to 36 months and will be guaranteed by the financed assets. Loans will be repaid once the developer has been awarded a long-term financing contract.
(Source: EIB, Various Media, PV Mag, 24 Mar., 2017)
Contact: EIB, Jonathan Taylor, VP, +352 43 791, www.eib.org; Eiffel Investment Group, www.eiffel-ig.com
More Low-Carbon Energy News European Investment Bank ,
NorthVolt is seeking equity investors for half the capital needed to build the factory with the rest raised through debt with the European Investment Bank or through the issuance of green bonds. The company expects to lower the cost of lithium-ion battery packs significantly, aiming to halve prices by 2022.
(Source: NorthVolt, Irish Independent, 13 Mar., 2017)
Contact: NorthVolt, Peter Carlsson,CEO, www.northvolt.com
More Low-Carbon Energy News Energy Storage, Battery, Lithium-ion Battery,
Buildings account for 40 pct of energy consumption and 36 pct of CO2 emissions in the EU. Older buildings can be up to 20 times as inefficient in their energy consumption for heating as new ones. Approximately one-third of Europe's building stock is more than 50 years old, but by improving energy performance and reducing energy demand, CO2 emissions could be reduced by around 5 pct.
EC legislation driving energy efficiency in buildings includes the 2010 Energy Performance of Buildings Directive and the 2012 Energy Efficiency Directive. Countries, too, have national measures to reduce the energy consumption of buildings. These include schemes to provide financial support for insulation measures, air sealing, and improved ventilation systems. (Source: EC, New Europe Online, 16 Mar., 2017)
More Low-Carbon Energy News Net-Zero Energy, EIB, EC,
Skeleton Technologies plans to become a full-scaled energy storage systems provider offering end-to-end hybrid energy solutions, and to
launch an electrode production facility near Dresden, Germany. To date the company has raised approximately €41.7 million.
(Source: EIB, 13 Feb., 2017) Contact: Skeleton Technologies, Taavi Madiberk, CEO, info@skeltontech.com, www.skeletontech.com; EIB, Jonathan Taylor, VP, +352 43 791, www.eib.org
More Low-Carbon Energy News European Investment Bank, Skeleton Technologies, Ultracapacitor, Energy Storage,
The EU aims to increase energy efficiency by 20 pct by 2030. To that end, the EC and European Investment Bank's "Smart Finance for Smart Buildings" initiative hopes to unlock approximately €10 billion of public and private funds between now and 2020. The EC is also working on a plan for the de-carbonisation of existing buildings by 2050.
Download the EC report on the State of the Energy Union Report HERE. (Source: European Commission Energy Union, PR, 2 Feb., 2017) Contact: European Commission Energy Union, https://ec.europa.eu
More Low-Carbon Energy News European Union news, European Commission news, Climate CHange news, Energy Efficiency news,
. On average, 8.6 pct of spending in low income European households is used for energy, a figure which has increased since 2005. Home heat and energy costs have become a financial burden to almost one-quarter of EU homeowners; a figure that EU member states must take into account when designing efficiency schemes.
The EU aims to increase energy efficiency by 20 pct by 2030. To that end, the EC and European Investment Bank's "Smart Finance for Smart Buildings" initiative hopes to unlock approximately €10 billion of public and private funds between now and 2020. The EC is also working on a plan for the de-carbonisation of existing buildings by 2050.
Download the EC report on the State of the Energy Union Report HERE.
(Source: European Commission Energy Union, PR, 2 Feb., 2017) Contact:
European Commission Energy Union, https://ec.europa.eu
More Low-Carbon Energy News Energy Efficiency, European Commission, EU,
The project, which is focused on the construction of new NZEBs in urban areas in Finland, also foresees energy efficiency investments in existing buildings which will be upgraded to comply with the optimal cost levels as defined by the Finnish Government. The project is expected to generate primary energy savings of 2,461 MWh/y, roughly equal to 460.5ton/yr of CO2 savings. (Source: EIB, SATO Corp., 11 Nov., 2016) Contact: SATO Corp., www.satoworldwide.com; EIB, Jonathan Taylor, VP, +352 43 791, www.eib.org
More Low-Carbon Energy News NZEB, Energy Efficiency, European Investment Bank,
The Lithuanian Leveraged Fund, a guarantee scheme funded with €100 million of EU Structural and Investment Funds and national resources, comes in support of energy efficiency investments. The structure will maximize the funds available for a national and municipal backed Multi-apartment Building Modernization Programme.
The guarantee is expected to generate as much as €500 million in bank loans for residential modernization and energy efficiency projects (Source: EIB, Others, 6 Oct., 2016)
Contact: EIB, Jonathan Taylor, VP, +352 43 791, www.eib.org
More Low-Carbon Energy News Energy Efficiency Funding, Energy Efficiency, EIB,
The €1.3 billion is expected to support the development of new wind farms in Belgium and Greece, small hydropower plants in Italy, and the construction of new zero-energy buildings across Finland. (Source: EIB, Sept., 2016) Contact: EIB, Jonathan Taylor, VP, +352 43 791, www.eib.org
More Low-Carbon Energy News European Investment Bank,
Of the total, €49 million would come under the IIFCL Energy Sustainability and Climate Action framework.The remaining € 27 million would be given under the IREDA-Renewable Energy and Energy Efficiency framework loan. This loan was provided in 2014 to the Indian Renewable Energy Development Agency (IREDA) to help finance projects in India's renewable energy and energy efficiency sector. (Source: EIB, SeeNews, Others, 21 Sept., 2016)
Contact: Indian Renewable Energy Development Agency Ltd., www.ireda.gov.in; EIB, Jonathan Taylor, VP, 011 +352 43 791, www.eib.org
More Low-Carbon Energy News Indian Renewable Energy Development Agency , European Investment Bank , Wind, India Wind,
The Vilnius cogeneration plant will consist of two units: one fueled by non-recyclable municipal waste and the other by biomass. The waste-fired unit will generate 18 MW of electrical power and 53 MW of thermal power. The biomass unit will have a capacity of 70 MW of electrical power and 174 MW of thermal power.
The plant is to be built by a consortium led by Germany's Steinmueller Babcock Environment and including Poland's construction group Budimex and Lithuania's Kauno Dujotieko Statyba. The plant's €150 million biomass-biofuel equipment and infrastructure will be installed by Poland's Rafako. (Source: EC The Baltic Course, LETA/BNC, 19 Sept., 2016)
Contact: Lietuvos Energija, Dalius Misiunas, CEO, +370 5 278 2115, biuras@le.lt, www.le.lt; EIB, Jonathan Taylor, VP, 011 +352 43 791, www.eib.org; European Commission, http://ec.europa.eu
More Low-Carbon Energy News Woody Biomass, European Investment Bank, European Commission,