Guarantee Funds

REFINE has identified guarantee funds as typically state-owned or state backed institutions which play an important role in other businesses (e.g. export industry) but have to this point seldom been engaged in securing the credit risks of energy efficiency investments.

Within the project, guarantee funds will be addressed in selected countries (Austria, Slovenia, Greece and Latvia) since a prior assessment has shown that in these countries the framework conditions are favourable either for testing the application of existing guarantee products to refinancing arrangement or for initiating new guarantee schemes, specifically for energy efficiency investments. Partners from other countries may join during the testing phase if framework conditions improve.

What REFINE means for Guarantee Funds

REFINE will conduct small-group trainings, mainly in the sector of financing institutions where experience shows that there exists only limited readiness to share knowledge with competitors. These trainings will be prevailingly in-house sessions and will have a specific focus on the involvement and role of guarantee funds.

REFINE hopes to bring guarantee funds into the discussion on refinancing schemes for energy efficiency projects, fostering collaboration with financial institutions, EES providers and market facilitators.

REFINE will develop business models for specified facilitation services relevant for the refinancing of EES projects, tested across 13 pilot applications.

REFINE will create a Database on refinancing instruments for EES projects available in participating countries, which will provide information on the national and international discussion on the refinancing of EES schemes.

REFINE will develop a rating system that helps to assess refinanceability of EES projects quickly and at low cost. Such a rating system could become an important facilitation service for easier match-making between EES providers that look for refinancing offers and refinancing institutions that look for purchase opportunities.