A European financing project is offering more than €1 billion (£0.77bn) for energy efficiency schemes.
The Investor Confidence Project (ICP) Europe has launched ‘Investor Network’, which aims to help connect real estate developers in need of private finance with investors seeking energy efficiency projects that deliver environmental and financial results.
The list of investors include the European Energy Efficiency Fund administered by Deutsche Bank, Royal Bank of Scotland, Banco BPI, Amber Infrastructure and Cut Power.
ICP Europe was created by the EU Commission’s Horizon 2020 programme to standardise energy efficiency upgrades in a way that makes them more attractive to investors and building owners.
Panama Bartholomy, Director of ICP Europe said: “The potential market for building retrofits in Europe is worth upwards of €100 billion (£77bn) per year, presenting a massive, untapped investment opportunity.
“Offering investors a common language to compare risks and savings makes projects simpler, decisions easier and project performance more reliable. We invite cities, building owners and local governments that develop these types of projects to meet with our Investor Network to help finance them.”