Pilot Details |
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| Pilot Name | Electric Mobility in the City of Kranj |
| Client Type | Local Government |
| Country | Slovenia |
| Solution Type |
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Vizije mobilnosti is a micro company focused on sustainable mobility and has a team with experience in energy projects development, investment and management, specifically in energy performance contracting (EPC) and energy supply contracting (ESC). The company is helping clients to reduce their energy consumption and carbon emissions by implementing sustainable transportation solutions incorporating electric vehicles, charging infrastructure for clients and public use, production of electricity from renewable sources, battery storage, smart energy management system and optimization of the vehicle fleet operation via an IT platform.
Breakdown
The e-mobility service provider Vizije mobilnosti is striving to increase its knowledge of energy efficiency services (EES) projects risk assessment and refinancing procedures in order to create a solid low risk refinancing cycle that will enable the company to grow by clearing its balance sheets through the sale of receivables.
Rating System
To create the pilot project risk assessment for refinancing based on available data, two layers of risk were evaluated using the REFINE Energy Efficiency Project Risk Analysis tool. These two layers were the EES project risk evaluation and the EES contractual preparedness risk evaluation. The EES project risk evaluation assessed the risk associated with the EES project itself, EES provider and EES client. The EES contractual preparedness risk evaluation assessed the risk associated with the existing contractual agreement related to the pilot project. Risk evaluations allow the EES provider to systematically assess the inherent risks associated with their EES projects and identify areas that require further attention in terms of refinancing.
Contract Stipulations
The analysis of the pilot project contract clauses has been conducted to identify areas where the contract should be improved to increase the likelihood of refinancing and make the process of refinancing easier. Based on the REFINE project standardised set of must-have and nice-to-have refinancing stipulations and analysis of EES contract clauses, two variants of waiver of objection to payment rights cession (refinancing) were created and added to the Annex to the EES contract of the pilot project.
Small and medium-sized energy service companies (SME ESCOs) in Slovenia still face difficulties in obtaining (re)financing for EES and renewable energy sources (RES). The establishment of solid refinancing cycles is seen by the SME ESCOs as the possibility to expand their business quicker than in a business-as-usual scenario. EES providers and clients, in both the private and public sectors, are willing to include refinancing contract clauses in their EPC agreements and recognize the need to upgrade risk assessments.
The REFINE Energy Efficiency Project Risk Analysis tool and standardized contract stipulations related to refinancing procedures are recognised to reduce the cost and burden of financial instrument implementation ensuring that the refinancing process is as efficient and cost-effective as possible.
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