|Pilot Refinancing Project
e7 evaluated the company’s contract stipulations of their standard contracting agreements regarding the possibility of refinancing and presented the potential of the refinancing scheme. On this basis, e7 has proposed additional clauses to be integrated into the standard EES contract of the companies.
In addition to the contract stipulations, e7 tested the REFINE rating system (D3.3) based on a concrete example of an ESC project of one of the EES providers. Taking the information of this project an evaluation and adaptation of the rating system has been made.
EES providers perceive refinancing schemes as a bit more complex and expensive than conventional financing options, since refinancing is not well-established in Austria. Therefore, as long as other financing opportunities are offered by commercial banks, the priority of starting a refinancing process is not high.
Another obstacle are missing relations to financing institutions offering refinancing to EES providers in Austria. A link to the funds that are providing refinancing at the European level was offered, but so far, no concrete steps have been taken by the EES provider.
EES providers in Austria are not well prepared to use refinancing schemes. Although the problem of missing “growing capital” is noticeable, EES providers remain rather reluctant concerning refinancing, as at the first sight the process might seem too complex and is not well established in Austria. As long as other financing opportunities are offered by commercial banks, the priority of starting a refinancing process is not high.
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