eeef joined Investor Confidence Project Europe to Boost Investments in Energy Efficiency
(LONDON – April 25, 2016) eeef is a founder member of the Investor Confidence Project Europe (ICP Europe) Investor Network launched today, to help connect real estate developers in need of private capital with investors in search of quality energy efficiency projects that deliver environmental and financial results.
“As an alternative, innovative financing instrument for energy efficiency projects in the public sector, we, in Europe, believe standardised energy upgrade approaches can accelerate project progress and facilitate a more structured project development approach to get access to financing,” said Lada Strelnikova, Director Deutsche Asset Management and Investment Manager for the European Energy Efficiency Fund.
ICP Europe is a project of the Environmental Defense Fund launched to standardise energy efficiency upgrades using rigorous measurement and verification metrics in a way that makes them more attractive to investors and building owners by likely delivering on predicted returns. ICP’s Investor Ready Energy Efficiency™ (IREE) certified projects are accredited against industry standards and best practices, which reduces transaction costs and increases confidence in savings to help engage private capital and scale up energy efficiency investments globally.
“The potential market for building retrofits in Europe is upwards of €100 billion per year, presenting a massive, untapped investment opportunity,” said Panama Bartholomy, Director of ICP Europe. “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 to help develop these types of projects and meet our Investor Network to help finance them.”
ICP Europe’s Investor Network was developed to help address the needs of investors looking for standardised projects that reduce the time, risk, and costs involved in funding energy efficiency building retrofits.
Along with eeef, charter members include: Royal Bank of Scotland, Banco Português de Investimento (BPI), SUSI Partners, CleanTech Leasing, The Carbon and Energy Fund, Menhaden Capital, Energy Efficiency and Renewable Sources Fund, Joule Assets, PIB Insurance, Triodos Bank, Amber Infrastructure, and CutPower.
Investor Confidence Project Europe aims to enable a marketplace for building owners, project developers, utilities, public programmes, and investors to trade in standardised energy efficiency projects. Click here for more information or connect with us on Twitter @icpeurope.
Environmental Defense Fund (edf.org), a leading international nonprofit organisation, creates transformational solutions to the most serious environmental problems. EDF links science, economics, law, and innovative private-sector partnerships. Connect with us on Twitter, Facebook, and our Energy Exchange blog.
The European Energy Efficiency Fund (eeef) S.A., SICAV-SIF is a “société d’investissement à capital variable” governed by Luxembourg law and was initiated by the European Commission in cooperation with the European Investment Bank. The initial capitalization provided by the European Commission was increased with contributions from the sponsors European Investment Bank, Cassa Depositi e Prestiti as well as the Investment manager Deutsche Bank.