Energy Efficiency Programme Funds For Europe

An assistance scheme has been launched by The European Commission and the European Investment Bank (EIB), who have decided to join forces in order to allow local authorities in the region to invest in energy efficiency and renewables.

This initiative has been christened the European Local Energy Assistance (ELENA).

ELENA aims to provide cities and local authorities with technical assistance to structure and implement cost-effective energy efficiency projects.

ELENA will mostly focus on helping cities implement energy efficiency programmes, deploy renewable energy and establish sustainable transport systems.

A budget of 15 million Euros is assigned to ELENA in its 1st year, and EIB engineers and economists will provide the technical advice.

Andris Piebalgs, the European Energy Commissioner, says: “With ELENA, we are launching another practical instrument aiming at unlocking the sustainable energy investment potential in European regions and cities”.

EIB president Philippe Maystadt says that energy efficiency has great potential in Europe, which is also the belief that members of the Energy Saving Association (ESA) share.

“This year we expect to lend more than €1 billion for energy efficiency-related projects throughout the European Union. Through ELENA we will be able to offer additional support to cities and regions,” says Mr. Maystadt.

ESA Council Member, Ken Cheyne, believes that energy efficiency projects are the most cost-effective way to achieve carbon emissions reduction, while allowing significant financial savings simultaneously.

Wednesday 16th December 2009

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