Bundling sustainable energy projects by 7 municipalities in the Athens Metropolitan Area
PRODESA aims to assist seven major municipalities in the Athens Metropolitan Area to launch showcase energy efficiency and renewable energy projects, utilising innovative financial tools and attracting private investments. To achieve its objectives, the project focuses on optimal bundling of the fragmented municipal projects, involving 116 public buildings and 6.3 MW streetlighting installed capacity, to achieve considerable size, reasonable payback time and risk diversification. Resource pooling is being used to optimise the financial results for all parties and to ensure a high participation of ESCOs in the tenders. The total investment is more than €20 million. So far, €7.8 million have been invested and €12.8 million are expected to be contracted shortly.
PRODESA is the first of its kind project in Greece and among its objectives is to create a network of at least 30 municipalities that will be supported to replicate the results. Funded by Project Development Assistance, Horizon 2020, Contract No 754171