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ProjectsCovenant of Mayors Investment Forum – Energy Efficiency Finance Market Place
18 and 19 February 2020

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VIPA has already established an investment platform for EE project financing, aimed at raising funding from various private financing resources and distribute investments to support EE project implementation. The platform is operated by VIPA with the investors acting as limited partners (currently one investor that already committed to 10 million euros investments). In addition, the Platform is going to attract various private resources to leverage the investor’s contribution to the Platform. In July 2018, the EIB has approved the loan for the Platform and VIPA. In the long term, VIPA seeks to increase the investors’ contribution and to achieve 1:5 leverage ratio.

The investment strategy of the Platform is to provide financing for EE projects. The Platform seeks to achieve energy savings and reductions of CO2 emissions by financing financially viable projects (payback period less than 10 years). VIPA is planning to execute the investment strategy of the Platform by launching products for separate EE sub-sectors in stages. The EE sub-sectors that fall into the scope of the investment strategy are prosumers, EE for industry, multi-apartments modernization. Well to mention, that now all opportunities are opened for residents of multiapartment buildings to become remote electricity producing consumer. Lithuania is among the pioneers in Europe to implement the small green energy development model, when electricity can be generated and consumed in different locations.

Nowadays, through the platform VIPA is developing a first financial product for prosumers. VIPA’s long term goal is to finance 50 million euros of investments to support prosumers market development. VIPA expects that citizen financing will be raised to co-finance and leverage Platform’s funding as a result of CitizEE project.

More on the VIPA website.