European energy schemes get double the backing
Source: Energy Live News
Two new schemes that aim to encourage greater private sector investment in saving energy have been launched.
The European Investment Bank (EIB) and European Commission (EU) together are backing investment for both schemes.
The Private Finance for Energy Efficiency (PF4EE) scheme and the Natural Capital Financing Facility (NCFF) scheme will be managed by the EIB and the EU will provide €80 million (£59m) for credit risk protection of energy efficiency loan portfolios and support of technical expertise.
It is estimated €500 million (£371m) of funding could be unlocked by the initiative.