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SUNShINE SIGNED

Save your bUildiNg by SavINg Energy – towards 202020m2 of deeply renovated multifamily residential buildings

Total Cost €

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EC-Contrib. €

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Partnership

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 SUNShINE project word cloud

Explore the words cloud of the SUNShINE project. It provides you a very rough idea of what is the project "SUNShINE" about.

risk    combined    entire    envelopes    track    cash    deteriorate    renovation    unfortunately    stock    investment    residential    financing    guaranteed    scheme    buildings    inadequately    engineering    lack    sunshine    viability    forfaiting    economic    fund    performance    company    suitable    shows    services    renovated    innovative    latvia    202020m2    escos    flows    26gwh    perception    energy    constraints    apartments    worth    private    esco    limited    weather    efficiency    deep    sheet    delivers    records    property    overwhelm    capturing    establishing    special    leads    full    capacity    continues    usually    re    markets    contracting    attractive    maintenance    savings    owners    15    ready    pipeline    provider    investments    remarkable    capitals    people    receivables    designing    30m    realizing    debt    idea    epc    guarantees    banks    implementing    owned    proper    privately    selling    purpose    balance    supports    transaction    reluctance    guarantee    individual    multifamily    service    funds    financial    public    nearly    barriers    collective    building    deeply    harsh   

Project "SUNShINE" data sheet

The following table provides information about the project.

Coordinator
RIGAS TEHNISKA UNIVERSITATE 

Organization address
address: KALKU IELA 1
city: RIGA
postcode: 1658
website: www.rtu.lv

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Latvia [LV]
 Project website http://www.sharex.lv
 Total cost 1˙555˙991 €
 EC max contribution 1˙555˙991 € (100%)
 Programme 1. H2020-EU.3.3.7. (Market uptake of energy innovation - building on Intelligent Energy Europe)
 Code Call H2020-EE-2014-4-PDA
 Funding Scheme CSA
 Starting year 2015
 Duration (year-month-day) from 2015-03-01   to  2020-02-29

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    RIGAS TEHNISKA UNIVERSITATE LV (RIGA) coordinator 202˙185.00
2    RENESCO SIA LV (RIGA) participant 357˙932.00
3    FUNDING FOR FUTURE BV NL (EGMOND AAN DEN HOEF) participant 263˙555.00
4    EKODOMA LV (RIGA) participant 203˙515.00
5    SIA SALASPILS SILTUMS LV (SALASPILS) participant 186˙270.00
6    ECO.NRG SIA LV (RIGA) participant 183˙637.00
7    EKU SAGLABASANAS UN ENERGOTAUPIBAS BIROJS LV (RIGA) participant 158˙896.00

Map

 Project objective

Deep renovation – the idea of capturing the full economic energy efficiency potential of existing buildings with focus on building envelopes – leads to remarkable energy savings. As nearly all of Latvia’s stock of multifamily residential buildings continues to rapidly deteriorate due to harsh weather conditions and lack of proper maintenance, the idea is attractive. Realizing this potential requires designing, financing and implementing complex energy efficiency investments, but today nearly all apartments in Latvia are privately owned. Practice shows that individual owners are inadequately organized to manage their collective property. Combined with a lack of awareness and technical knowledge, limited availability of funding, high risk perception and reluctance for debt financing, the barriers overwhelm most people. A concept that addresses these constraints is Energy Performance Contracting (EPC). A key feature of EPC is that the provider, an energy service company (ESCO), guarantees energy savings. SUNShINE supports public and private ESCO's and leads to an innovative investment scheme with a pipeline of projects worth €30m, guaranteed savings over 26GWh/year, and 202020m2 of deeply renovated buildings. A major objective is to demonstrate the financial viability of deep renovation via suitable financial engineering of public funds and private capitals. The proposed approach is simple, yet very innovative: most ESCOs have limited balance sheet capacity and are not able to support much long term debt. So re-financing is usually achieved by selling future cash flows (receivables) by a forfaiting transaction. After this transaction the ESCO continues to guarantee energy savings for the entire EPC term (15-20 years). Unfortunately, in emerging EPC markets like Latvia, there are not enough track records, so banks are not yet ready to offer these services to ESCOs. The project delivers the same service by establishing a special purpose fund for EPC.

 Deliverables

List of deliverables.
Scanning tool Other 2020-01-24 10:26:41
Best practice report Documents, reports 2020-01-24 10:26:41
Template for M&V - Project Implementation Report Documents, reports 2020-01-24 10:26:41
Report about M&V Documents, reports 2020-01-24 10:26:40
EPC template Documents, reports 2020-01-24 10:26:40
Forfaiting tool Other 2020-01-24 10:26:41
Market assessment report Documents, reports 2020-01-24 10:26:41

Take a look to the deliverables list in detail:  detailed list of SUNShINE deliverables.

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The information about "SUNSHINE" are provided by the European Opendata Portal: CORDIS opendata.

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