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Pilot Details
Pilot Name Energy upgrade of a municipality in Greece
Client Type N/A
Country Greece
Solution Type Facilitation services


The Municipality intends to upgrade a number of its municipal buildings by publishing a Tender for an Energy Services Contract that will finance the proposed measures with a guaranteed performance energy performance contract. The upgrades will consist of:

  • The installation of PV net-metering systems.
  • The replacement of conventional indoor lighting fixtures with LED’s
  • The replacement of boilers fired by either diesel oil or natural gas with a heat pump providing both heating and cooling


Therefore, the Technical Services Department of the Municipality requested facilitation services for the preparation of the Tender and also the implementation and testing of the refinancing instruments.

The financial difficulties that most Hellenic municipalities face seems to render the selection of energy performance contracting with Third Party Financing and re-financing clauses as the most likely mechanism for the implementation of such projects.


However, with the current market situation of the Hellenic energy services market, in order for this mechanism to be adopted and implemented, the following are necessary:

  • The instituinalizaton of loan guarantee mechanism for the ESCOs.
  • In the absence of a loan guarantee mechanism, the clustering of projects of various municipalities.
  • The more active involvement of refinancing institutions.

National subsidies are often essential in order to make some projects economically viable or more attractive.

However, in many cases they also can be counterproductive as clients will await national subsidy schemes rather than pursuing other forms of financing, such as Third Party Financing with Energy Performance Contracts.

For more information, please contact:

The Centre for Renewable Energy Sources and Energy Saving