Through rapid, lump sum funding, the European Commission aims to establish two facilities designed to support cities, communities and islands to prepare investments in sustainable energy.
This is seen to be key in Europe's energy transition, as investment will be used to boost energy efficiency and the use of renewable energies.
European Islands Facility
Europe is home to more than 2200 inhabited islands providing significant investment potential. Too few islands in Europe succeed in developing and scaling up investment packages.
This facility will encourage islands to become more energy independent by making more effective use of available renewable resources and reducing energy imports. Islands will be encouraged to innovate and localise to solve supply / demand challenges.
The project will further support islands to transform their overall long term ambitions into credible investment concepts.
The European Islands Facility will focus on facilitating an increased leveraging of finance into energy transition investments by public authorities and to increase the capacity of public authorities to develop bankable projects.
European City Facility
Cities and communities have the potential to lead environmental transformation, through adoption of sustainable energy and climate action plans.
The projects aims to secure community committment to achieving national and European sustainable energy and climate targets.
A key gap is the lack of capacity of public authorities to transform their long-term strategies and ambitions into credible investment concepts.
The aim of the European City Facility is to get a large number of cities and communities to kick-start the process for mobilising investments in sustainable energy through realisation of investment concepts.
For more information join the info session on 2 July 2018 in Brussels or via web-streaming.