Triple-A Press Release: Issue June 2020 View in browser

Post-COVID-19: New Era for Energy Efficiency Investments & Economy Recovery Plans

COVID-19 pandemic has created the biggest global crisis of the latest years, creating domino reaction to health system, economies and societies around the world. The severe effects from the COVID-19 are not temporary and in combination with the threat posed by climate change, plans should be drawn up in effort to counter the damage created.

Discussions are currently taking place in order to explore how Energy Efficiency (EE) would play a vital role for governments towards their economic recovery plans, since EE is considered to be proven a win-win situation.

The International Energy Agency (IEA) points out that targeted EE investments could boost economies by creating jobs and bring long-term benefits for consumers, business and the environment, in particular, lower energy bills, reduced greenhouse gas emissions and improvements in energy systems.

Three categories of EE investments are proposed to be investigated by governments and included in their economic recovery plans; buildings (construction and energy efficiency renovation), technology replacement by energy efficient models, large scale infrastructure projects. Hence, it is reckoned that EE projects could play a crucial role in transitioning to the future economy, where sustainable growth will be the centre of attention.

Triple-A contribution

Ways to securitise EE investments in order to meet their commitments are of great importance due to the volatility of the recent pandemic circumstances. Towards this direction, Triple-A project could boost EE investments through the identification of attractive EE projects ideas and enable them to get financed

EE investments, being inherently risky investments, require a standardized methodology to assess the risks involved from the first stages of investments generation and pre-selection/ pre-evaluation.

In particular, the Triple-A Tools aim at standardising and augmenting the EE financing chain, while offering:

  • Identification of financially attractive EE project ideas for bankers, funds and other financial institutions.
  • Benchmarking of the EE projects and selection the “Triple-A” EE investments, which merit attention by funding organizations.
  • Linking Triple-A investments ideas with possible financing schemes (Warehouse lending, Green Bonds, EE Auctions).

Now that EE sector is most promising than ever, Triple-A can play a critical role contributing to EE investments recovery and shift pandemic crisis consequences towards opportunities not only for sustainable growth, but for the energy transition as well.

Triple-A Tools

Triple-A Assess Tool

Within the “Assess” Tool, project ideas are collected and evaluated according to their perceived risk profile. Initial data regarding the candidate EE project are collected from project developers, in order to extract a comprehensive risk assessment for the examined project. A “Go-No Go” process is implemented and the projects that meet the specified thresholds continue to the next step (“Agree” tool).

Triple-A Agree Tool

The “Agree” Tool takes advantage of the various existing or new financial, risk and socio-environmental key performance indicators (KPIs). In this tool, the EE projects that pass the “Go-No Go” step, are classified through the application of multicriteria classification methods in three distinct categories: “Triple-A”, “Reserved”, or “Rejected”.

Triple-A Assign Tool

The “Assign” Tool is a multidimensional platform consisting of numerous interfaces according to the different types of beneficiaries. The targeted beneficiaries of the “Assign” Tool are, on the one hand, project developers, ESCOs, etc. that seek proposed financing schemes/instruments to support their project ideas, and, on the other hand, financing bodies, such as banks, investment funds, etc. that search for a profitable portfolio of Triple-A projects to finance.

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The Triple-A project has received funding from the European Union’s Horizon 2020 Research and Innovation Programme under grant agreement No 846569.

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