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A year in the F-PI project

Thursday June 25th 2020|

The European Commission expects the F-PI project to make a valuable contribution to the green recovery of the economy in Spain in accordance with the European Green Deal

 

During the first year of the F-PI project “Financing Energy Efficiency using Private Investments”, work has been done to build a solid structure that functions as a link between project promoters in terms of energy efficiency and self-consumption and investment funds and financial entities.

 

 

According to Jesús Rubio Conde, Manager of the Energy Economic Consulting area of Deloitte, and coordinator of this project, F-PI has managed to mobilize 2.98 million euros thanks to having more than 20 financial agents interested in investing in sustainable projects and the creation of project portfolios with homogeneous and standard information.

According to Jesús Rubio Conde, Manager of the Energy Economic Consulting area of Deloitte, and coordinator of this project, F-PI has managed to mobilize 2.98 million euros thanks to having more than 20 financial agents interested in investing in sustainable projects and the creation of project portfolios with homogeneous and standard information.

 


After a first year focused mainly on making itself known and creating a strong network of promoters and financial entities, F-PI is positioned as a benchmark intermediary in the field of mobilizing private investment in energy efficiency projects, which is why Among its objectives for 2020-2021 is to make the initiative more widely known, transforming face-to-face events into digital events, as it has been doing in recent months taking into account the social context.
As a novelty, Jesús Rubio Conde recalls that the main bet for the last two years that remain is “to achieve a diversification of the type of actions financed, achieving a greater presence of energy efficiency projects in the different economic sectors. On the other hand, F-PI expects in this second stage to be able to implement Blockchain solutions in a way that allows monitoring of energy savings. ”


"The F-PI project has contributed to accelerate investments in sustainable projects in Spain"


After the first steps of the F-PI project, Martin Eibl, Senior Project Advisor of EASME (Executive Agency for Small and Medium-sized Enterprises) of the European Commission, in charge of supervising the project, acknowledges that “the project has contributed to accelerate the pipeline of investments in sustainable projects in Spain ”. The growth prospects are very high and the European Commission hopes "that the project will make a valuable contribution to the green recovery of Spain in the context of the European Green Deal".


But, without a doubt, the success of the project is confirmed by the protagonists who have already taken advantage of F-PI to streamline operations and mobilize projects. From the investors' side, the testimony of Ruperto Unzué, Partner of Suma Capital, is very clear: “FP-I has been very useful both in the possibility of identifying projects in which to invest, as well as in support during the phase analysis and due diligence. It is a tool that allows to contribute the knowledge and the network of contacts generated to get more projects to invest in. Our assessment during this first year is positive and this is demonstrated by the volume of projects we are working on under FP-I ”.

 

 

The advantage of grouping investors and promoters
Many promoters have already benefited from F-PI services. “It is not always easy to find interlocutors who understand both languages and know how to interpret the technical and, therefore, economic advantages of a project. F-PI groups professionals from both worlds working in a complementary way. This is a great value, as they are able to interpret the needs of developers and investors and make both understand each other, ”says Abel Martín, Manager of Agais Servicios Energéticos.
Another hallmark of the project is that it adapts to the needs of the promoters. Thanks to the proposal of Alejandro Sánchez, Manager of Stratenergy, F-PI is considering including the development of valuation systems for developers, so that improvements in financing costs can be obtained from those who perform better on projects.
The role of the technical-economic viability report is another of the points to be valued by the promoters. At Contigo Energía, “we consider it very important to have external auditors in those projects where we include financing. This is due to 3 main reasons: review and verification of the calculations, credibility with the client and identification of premises not contemplated in the beginning ”, details Javier Avendaño María, General Director of Contigo Energía. F-PI is useful for the promoter since "it is very helpful to have eyes outside the company that propose different paths to reach the same objective".
In short, and closing with the words of Javier Avendaño, "the function of the F-PI project and its members help us to verify, give confidence and improve our commercial sales process when we try to execute energy projects that require financing."
The commitment to the green future is clear. F-PI puts it into practice and these two years of project that lie ahead will serve to strengthen its purpose of mobilizing private investments in energy efficiency.

 

About F-PI
F-PI is a project financed by the European Commission within the framework of H2020 with the main objective of promoting the development of private investments in the fields of energy efficiency, sustainable mobility and self-consumption. Through the actions of this project it is expected to mobilize a total investment of 30 million euros in three years.
It is a project managed by EASME, the European Commission's Executive Agency for SMEs, ensuring that actions funded by programs such as COSME, LIFE, EMFF and Horizon 2020 deliver results and provide the Commission with valuable information for its political tasks. The partners of the F-PI project are ANESE (National Association of Energy Service Companies), Deloitte, EcoMT and Grup Cerveró.

 

 


After a first year focused mainly on making itself known and creating a strong network of promoters and financial entities, F-PI is positioned as a benchmark intermediary in the field of mobilizing private investment in energy efficiency projects, which is why Among its objectives for 2020-2021 is to make the initiative more widely known, transforming face-to-face events into digital events, as it has been doing in recent months taking into account the social context.
As a novelty, Jesús Rubio Conde recalls that the main bet for the last two years that remain is “to achieve a diversification of the type of actions financed, achieving a greater presence of energy efficiency projects in the different economic sectors. On the other hand, F-PI expects in this second stage to be able to implement Blockchain solutions in a way that allows monitoring of energy savings. ”


"The F-PI project has contributed to accelerate investments in sustainable projects in Spain"


After the first steps of the F-PI project, Martin Eibl, Senior Project Advisor of EASME (Executive Agency for Small and Medium-sized Enterprises) of the European Commission, in charge of supervising the project, acknowledges that “the project has contributed to accelerate the pipeline of investments in sustainable projects in Spain ”. The growth prospects are very high and the European Commission hopes "that the project will make a valuable contribution to the green recovery of Spain in the context of the European Green Deal".


But, without a doubt, the success of the project is confirmed by the protagonists who have already taken advantage of F-PI to streamline operations and mobilize projects. From the investors' side, the testimony of Ruperto Unzué, Partner of Suma Capital, is very clear: “FP-I has been very useful both in the possibility of identifying projects in which to invest, as well as in support during the phase analysis and due diligence. It is a tool that allows to contribute the knowledge and the network of contacts generated to get more projects to invest in. Our assessment during this first year is positive and this is demonstrated by the volume of projects we are working on under FP-I ”.

 

 

The advantage of grouping investors and promoters
Many promoters have already benefited from F-PI services. “It is not always easy to find interlocutors who understand both languages and know how to interpret the technical and, therefore, economic advantages of a project. F-PI groups professionals from both worlds working in a complementary way. This is a great value, as they are able to interpret the needs of developers and investors and make both understand each other, ”says Abel Martín, Manager of Agais Servicios Energéticos.
Another hallmark of the project is that it adapts to the needs of the promoters. Thanks to the proposal of Alejandro Sánchez, Manager of Stratenergy, F-PI is considering including the development of valuation systems for developers, so that improvements in financing costs can be obtained from those who perform better on projects.
The role of the technical-economic viability report is another of the points to be valued by the promoters. At Contigo Energía, “we consider it very important to have external auditors in those projects where we include financing. This is due to 3 main reasons: review and verification of the calculations, credibility with the client and identification of premises not contemplated in the beginning ”, details Javier Avendaño María, General Director of Contigo Energía. F-PI is useful for the promoter since "it is very helpful to have eyes outside the company that propose different paths to reach the same objective".
In short, and closing with the words of Javier Avendaño, "the function of the F-PI project and its members help us to verify, give confidence and improve our commercial sales process when we try to execute energy projects that require financing."
The commitment to the green future is clear. F-PI puts it into practice and these two years of project that lie ahead will serve to strengthen its purpose of mobilizing private investments in energy efficiency.

 

About F-PI
F-PI is a project financed by the European Commission within the framework of H2020 with the main objective of promoting the development of private investments in the fields of energy efficiency, sustainable mobility and self-consumption. Through the actions of this project it is expected to mobilize a total investment of 30 million euros in three years.
It is a project managed by EASME, the European Commission's Executive Agency for SMEs, ensuring that actions funded by programs such as COSME, LIFE, EMFF and Horizon 2020 deliver results and provide the Commission with valuable information for its political tasks. The partners of the F-PI project are ANESE (National Association of Energy Service Companies), Deloitte, EcoMT and Grup Cerveró

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