|Pilot Name||Public Lighting Upgrades in Greece|
|Client Type||Technology Provider|
|Solution Type||Facilitation services|
Two technology providers that have implemented several municipal street lighting energy upgrade projects in Greece.
The two technology providers were interested in learning about other countries’ experience with refinancing schemes and to also learn about current developments in Greece.
Technical assistance was provided to both of these companies in order for them to include refinancing clauses in their future project implemented with energy performance contract and financed by the ESCOs (either with own funds or bank loans).
The technology provider with own funds available for the financing of its projects, already has a significant pool of implemented and potential projects which are now straining their resources. Therefore, they were very willing to include refinancing clauses in their future EPC contracts.
On the other hand, the other technology provider has more limited resources available for the funding of street lighting projects with energy performance contracts and, therefore, they need to have access to a source of refinancing in order to proceed with their implementation.
EPC with Third-Party Financing has been implemented in numerous projects. However, as more and more projects are implemented, the technology providers that implement them with either own funds or bank loans are reaching their financing limits.
All of them are very positive to the inclusion of refinancing clauses in their EPC contracts as refinancing would significantly aid them in relieving their financial constraints. However, the lack of interest from refinancing institutions has led most of the outdoor lighting technology providers to seek alternative financial solutions.
The most popular solution has been to cooperate with a larger company willing to provide the financing of the project (i.e. large multi-national construction companies) whilst the technology provider provides its technical know-how.
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