The ELENA | Chieti Towards 2020 project plans, over the 2012-2014 period, investments in amount of 80 million Euros directed to implement energy-saving measures, through the use of renewable energy, in public buildings owned by the Province of Chieti and the provincial Municipalities, as well as energy efficiency interventions in public lighting systems.

75% (60 million) of the total investment will come from low-interest loans granted by the EIB (European Investment Bank) and channelled through financial intermediation to the awarding ESCOs (Energy Service Companies) identified as a result of the call for tenders by the Province of Chieti; the remaining 25% (20 million) will come from private equity funds made available by the ESCOs themselves.

The Province of Chieti has the task of managing, in agreement with the Municipalities and other public entities involved in the project, the entire investment programme, the monitoring of results and the dissemination of procedures and methods developed for the project. For technical assistance in the implementation of the programme, the European Commission has granted the Province of Chieti a co-financing grant of 1.8 million Euros.

The operational tools and documentation required for the implementation of the project are organised with the support of a selected specialist Staff and a legal, administrative, accounting and auditing Advisor, particularly for: the drafting of the call documents for the E.S.Co. selection and the assistance in assessment ; the final assessment of energy audits, the preparation of Specifications and Tenders; the definition of bid evaluation criteria; the financial auditing.

The selected ESCOs will realize the integrated services and interventions aimed at upgrading and improving the energy efficiency of buildings and systems owned by the Province of Chieti and the Municipalities participating in the investment program. The Guaranteed Savings contractual mechanism allows to recover the EIB loan through savings obtained from the energy requalification interventions or through the energy bill for photovoltaic systems. At the conclusion of the contracts, the Province, the Municipalities and any other public partners involved will take advantage of the total amount of savings and count on energy efficient facilities and services.