The EU, its Member States and EU regions have defined ambitious energy strategies, setting firm targets for an increased share of renewable energy sources, more energy efficiency and less carbon emissions in order to make Europe’s energy supply sustainable and future proof.
An important obstacle for wide-spread introduction of renewable energy production capacity and energy efficiency measures is the fact that actors (public and private) willing to invest in sustainable energy hardware and infrastructure often have difficulties to attract financial means to support their investments. The private financial sector (banks, investors) is often hesitant to invest in sustainable energy. Public funding is an alternative or complementary source for these investments. But the financial volume of national financial support schemes in most EU countries is limited and they often lack continuity or are difficult to acquire.
These limitations of the funding ‘market’ are holding back realisation of the targets set by EU regions in their sustainable energy strategies. Regions with the ambition to be leaders in sustainable energy must therefore themselves create innovative instruments and facilities to generate these financial flows and investments in their territory.
Regions4GreenGrowth is an initiative of EU regions who have defined high sustainable energy ambitions and now encounter this obstacle. The overall objective of the project is to equip these regions with regional policy instruments, mechanisms and approaches to improve access to finance for and speed up investments in sustainable energy projects (e.g. renewable energy generation capacity, energy efficiency measures) in their territories.
The partners in this project are Flevoland province (NL, lead partner), Norrbotten and Västernorrland regions (SE), Maramures County and Prahova Energy Agency (RO), Abruzzo and Lazio regions (IT), Valencia Energy Agency and Instituto Technico de la Energia (ES), Patras Science Park representing Western Greece region (EL), Center for sustainable regional development representing Gabrovo region (BG), Noord-Brabant province (NL), Assembly of European Regions, Észak – Alföld regional development agency (HU) and Oldham Council representing Greater Manchester Region (UK).
You can learn more about each individual partner in the Partners section of this website.
Main project activities and methodology
Project activities include the collection and documenting of effective policy instruments in this field from partners and other actors. During Peer Reviews the partners will tackle the specific challenges of each partner region and present them with tailor made packages of policies and instruments to speed up sustainable energy investments. And a specific method for creating a public-private cooperation structure for investments in sustainable energy, developed by Flevoland, will be passed on to the partners in a Master Classes series, and implemented in 3 partner regions. Project achievements will be documented in a Guide on methods and implemented Good Practice and widely disseminated.