Presentation

The ELENA - Chieti Towards 2020 Project is the largest investment-intervention ever made in the Province of Chieti for energy efficiency improvements and installation of energy producing facilities from renewable sources.

The EU-funded project plans to invest a total of 80 million Euros over the 2012-2014 period, through which  photovoltaic systems for  public building roofs and energy efficiency interventions in public buildings and public lighting systems will be realized. Chieti is one of the three Italian Provinces, along with Milan and Modena, considered eligible and admitted to participate in the ELENA assistance programme.

ELENA (European Local ENergy Assistance) is the financial system developed by the European Investment Bank (EIB) in partnership with the European Commission, under the Intelligent Energy Europe Programme (IEE),  with the scope  to provide technical assistance to local and regional public administrations for the implementation of the investment projects in the fields of energy efficiency and renewable energy sources.

The ELENA programme aims to mobilize private investment in the public sector, following the "Third Party Financing" and "Shared Saving Contract" systems, so to overcome the current debt load difficulties of local governments. ELENA is one of the financial systems for the activities envisaged by the Covenant of Mayors.

75% (60 million) of the total investment directed to the Province of Chieti will come from loans granted by the EIB. The remaining 25% (20 million) will come from private equity funds made available by the ESCOs (Energy Service Companies) that will be appointed to carry out the work after public tender procedures have been completed.

On the basis of the ELENA mechanism and format, the Province of Chieti and the municipalities participating in the project, will not need to resort to any form of financing and, over a number of years, the investment financed by the ESCOs will be recovered through a share of the energy savings resulting from the implemented efficiency installations.