Energy Efficiency Investments in multifamily houses – HOUSEENVEST

Location: Extremadura Region, Spain

Population: 1,070,586 [Regional Population]

Climate: Mediterranean

Duration: March 2018 – February 2021 (ongoing)

Sector: Buildings

Funding sources: Public

City networks: N/A


Savings: N/A

Solutions: The development of a financing scheme consisting of a combination of innovative tools for standardization, pooling, bundling and de-risking.

Multiple benefits: HousEEnvest project implies greater visibility of the progress that the region is making in the energy improvement of public and private buildings, promoting energy sustainability and driving decarbonization of rural and urban areas of the region [source].


The HousEEnvest project – formed by a consortium of nine partners – follows two years of work between key regional institutions from the energy, economic and building sectors, combined with international resources from IEB and EU cooperation programs, which have allowed designing one financing scheme made to measure of Extremadura building renovation necessities.

Objective – To demonstrate the viability of an innovative financing scheme for the full energy renovation of multifamily houses in Extremadura, which will also contribute to boosting the construction sector.

Solutions – The HousEEnvest project will develop an innovative financing scheme, with a combination of standardization solutions, with funding engineering and de-risking systems, which together breaks the current existing barriers for full energy renovation of multi-family houses in Spain and many others EU countries [source]. Moreover, the project will also focus on the implementation of a Guarantees Fund created with public investment funds, movement of non-refundable grants through the combination of EFSI funds and private participation.

Funding – The funding for this project comes from IEB and EU. In particular, the EU contribution amounts to EUR 631,305 [source].

Innovation – Through the implementation of an innovative financing scheme, the Guarantees Fund will facilitate the homeowner´s associations the technical, economic and feasibility analysis of investments and access to financing in advantageous situations compared to the current financial offer [source].

Furthermore, HousEEnvest will have results in the Energy renovation of multifamily building, and introduce EU added value through the combination of several proved innovations, which are applied and customized for the multifamily buildings with central heating.

Success factors – In order to reach a successful project implementation, HousEEnvest gathers today 9 representatives of the entire key actors: decision-makers from the Government, public financial companies, association with access to buildings, associations of the construction sector and companies providing technical, legal and economic expertise [source].


Significant outcomes:

After the completion of the project, the following significant outcomes are expected:

  • To unlock the energy investment in private buildings, using the made to measure Fund [source];
  • To captured untapped high energy efficiency potentials in the energy renovation of Extremadura buildings [source].

Synergies with local policies:

Political alignment:

Marketability:

  • HousEEnvest aims to be a showcase in the unlocking of investment through pooling, when supported by a proper Fund scheme, which can be applied and replicated in other geographies and even other sectors.

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Sectors: Buildings, Finance

Country / Region: Spain

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In 1 user collection: Good practices of cities

Knowledge Object: User generated Initiative

Published by: Agencia Extremena de la Energia