REFINE has identified market facilitators, such as energy agencies and specialist consultancies as elements of a wider stakeholder group which may be interested in the Project’s future solutions and outcomes.
Depending on the set-up in each individual country, they may play an important role in standardising the refinancing schemes and in streamlining due diligence. The lack of adequate market facilitation services has previously been identified as a reason for the relative weakness of Energy Performance Contracting (EPC) markets in parts of Europe.
What REFINE means for Market Facilitators
REFINE will assist in the elaboration of facilitation services that support the application of the refinancing cycle through reduction of transaction cost for involved stakeholders.
REFINE will conduct a number of interviews with experts in the field of EES projects, including market facilitators, which will assist in the development of any new refinancing instruments.
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.
REFINE will develop business models for specified facilitation services relevant for the refinancing of EES projects, tested across 13 pilot applications.
REFINE will help to develop standardised brokerage services by EES facilitators to foster refinancing of EES projects on the European markets. The facilitation services may include, inter alia: services related to due diligence during refinanceability check, operation of a rating system, and refinancing business development services etc. A full analysis and description of potential facilitation services will be presented.
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.