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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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Outcomes and
results

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.

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

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 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.	LV (RIGA)	coordinator	202˙185.00
2	RENESCO SIA RENESCO SIA Organization address address: NOLIKTAVAS IELA 3-2 city: RIGA postcode: LV-1010 website: n.a. contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	LV (RIGA)	participant	357˙932.00
3	FUNDING FOR FUTURE BV FUNDING FOR FUTURE BV Organization address address: ZANDWEG 30 city: EGMOND AAN DEN HOEF postcode: 1934 BJ website: n.a. contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	NL (EGMOND AAN DEN HOEF)	participant	263˙555.00
4	EKODOMA EKODOMA Organization address address: 3-3 Noliktavas Street city: RIGA postcode: 1010 website: www.ekodoma.lv contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	LV (RIGA)	participant	203˙515.00
5	SIA SALASPILS SILTUMS SIA SALASPILS SILTUMS Organization address address: MIERA IELA 31A city: SALASPILS postcode: 2169 website: n.a. contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	LV (SALASPILS)	participant	186˙270.00
6	ECO.NRG SIA ECO.NRG SIA Organization address address: VIENIBAS GATVE 87C-1 city: RIGA postcode: LV-1004 website: n.a. contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	LV (RIGA)	participant	183˙637.00
7	EKU SAGLABASANAS UN ENERGOTAUPIBAS BIROJS EKU SAGLABASANAS UN ENERGOTAUPIBAS BIROJS Organization address address: SKOLAS IELA 22A/14 city: RIGA postcode: 1010 website: n.a. contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	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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