Total Budget of 89,861 €
INFINITE Solutions - Innovative Financing for Local Sustainable Energy Solutions
The most important goals of INFINITE Solutions project are:
- Fundamental innovative financing models of energy efficiency implemented by cities mentors Stuttgart and Delft redefine and adapt to national framework of cities adaptors (learners)
- Local technical, financial, legal and management capacity building of project partners and their employees
- National and international (EU) promotion of project results
- Establishment and implementation of Intracting and Soft Loans in nine cities involved in the project
The Regional Energy Agency North in Koprivnica (REA North) has chosen Intracting as a model that will be implemented in the City of Koprivnica. This model is based on the idea of Energy performance contracting (EPC) within the City administration and facilities owned by the City. Model is a sort of combination of Energy revolving fund and Energy service company (ESCO ). The cooperation is established between two separate organizational units of the same City administration. Financial savings through energy efficiency measures are returned to a dedicated part of the City budget (Revolving fund) from which new measures can then be financed. Intracting is a model that City of Stuttgart has been running since 1995.
For purposes of the City of Koprivnica REA North is developing a version of Intracting called Internal Energy Revolving Fund (IntERFon). Development and establishment of IntERFon should enable City of Koprivnica to overcome typical obstacles due to separate operational and investment parts of the City budget and administrative departments. On one hand City has high energy bills because of the poor condition of City's facilities while on the other hand departments are not able to effectively plan, finance and implement necessary measures to increase energy efficiency.
TECHNICAL & FINANCIAL DETAILS
«Intracting» or «internal contracting»
Source of Funds:
Initial fund - seed money: €20,000 with the total budget of REA North at € 89,861 (EU co-finances 75% of the budget)
KEY SUCCESS FACTORS (REPLICATION POTENTIAL)
The fund will finance the implementation of energy efficiency projects that aim at a greater reduction in energy use and significant financial savings resulting from lower energy bills and maintenance costs. The fund is also expected to improve the way energy investments are planned, designed and implemented (e.g. preparation or procurement of energy-related documentation), to speed up and simplify decision-making as regards investments, and bring financial benefits.