Scaling Energy Efficiency Investments in Multifamily Buildings

Regional Investment Roundtable; 23.11.2022, Sofia (Bulgaria)

Successful practices, business models and instruments that enable deep renovation in multifamily buildings were at the center of the discussions during the Regional Investment Roundtable that took place on November 23rd, 2022 in Sofia (Bulgaria). The event was organized as part of the activities under the FinEERGo-Dom – a H2020 funded project. During the opening session, renowned speakers presented recent and upcoming developments in Energy Performance Contracting (EnPC) markets and regulations across Europe, drew key parallels with the FinEERGo-Dom scope, and outlined opportunities for synergies.

The EU level policy context was outlined by Eduardo Soares Antunes (DG ENER). Mr. Antunes focused on the new revision of the Energy Efficiency Directive and the additional ways for supporting the EnPC model throughout EU.

Ms. Karolina Loth-Babut (Polish National Energy Conservation Agency / KAPE) – FinEERGo-Dom project coordinator and Mr. Marcin Jamiołkowski (Polish Fund for Environment Protection and Water Management / NFOŚiGW) – FinEERGo-Dom’s financial capacity provider, presented the structure of the already operating FinEERGo-Dom financial scheme in Poland, which involves The Polish Development Fund (PFD) besides KAPE and NFOŚiGW. Mr. Nicholas Stancioff, the FinEERGo-Dom ideologist, broadened the FinEERGo-Dom vision and shifted it from energy efficiency towards comfort, health, and safety environment for homeowners.

The plenary session concluded with a presentation from one of the keynote speakers of the Roundtable – Mr. Soren Lutken (Chairman of the Global ESCO Network). Mr. Lutken explained the various ways through which the Global ESCO network supports the application of ESCO business model and EnPC around the world, including through mechanisms similar to the FinEERGo-Dom.

Sharing experience from structuring the Bulgarian Decarbonization Fund, North Macedonian Energy Efficiency Fund, and the “Renovation with guaranteed savings” program in Poland was at the focus of the first discussion Session. Mr. Robert Pernetta (European Investment Bank), Mr. Marcin Jamiołkowski (NFOŚiGW), Mr. Simon Avramovski (PointPro Consulting), and Mr. Marko Markov (Econoler) delivered lively and insightful discussion on the subject.

Opportunities for cooperation among active H2020 projects in Bulgaria was the focus of Session Two. Assist. Prof. Maria Trifonova (SHAREs) and Ms. Tzveta Naniova (SHEERenov) brought their perspective on how FinEERGo-Dom can strengthen the value proposition of their projects. Dr. Dragomir Tzanev (EnEffect & Municipal Energy Efficiency Network EcoEnergy) stressed on the importance of effective communication as a tool for enhancing homeowners` engagement.

Mr. Ivan Gerginov (SOFIAC) launched a transcontinental conversation on successful financial practices by using the example of SOFIAC, an investment fund to accelerate Canadian private companies’ EE and decarbonization projects in Session Three. Ms. Gunta Cekule (Latvian Building Energy Efficiency Facility / LABEEF) went into detail in explaining the operation of the fund in Latvia and the reasons why it serves as the role model for the FinEERGo-Dom project. The session concluded with two presentations from mature EnPC markets. Mr. Lieven Vanstraelen (Energinvest & President of the Belgian ESCO Association / BELESCO) demonstrated efficient design of billion investment level project portfolios from Belgium; Ms. Jana Szomolányiová (SEVEn) and Mr. Jaroslav Maroušek (SEVEn) presented a big-ticket EnPC from the Czech Republic that blends financial resources from a grant provider and financial institution.

Presentations for download:

About us

FinEERGo-Dom is an ambitious 4-year project that refines and implements guaranteed financing schemes for energy efficiency and renewable energy in deep renovations of buildings in Poland, Austria, Slovakia, Romania, and Bulgaria. The project builds on the experience of the Latvian Building Energy Efficiency Facility (LABEEF), the original Building Energy Efficiency (BEEF) Facility deployed successfully in Latvia. LABEEF is based on an existing example providing 20 year Guaranteed Performance contracts to owners through an On-Bill payment scheme.