ICP Europe launches investor network, over €1bln for energy efficiency

(eceee news, 28 Apr 2016) Investor Confidence Project Europe (ICP Europe) launched its Investor Network on 25 April to help connect real estate developers in need of private capital with investors in search of quality energy efficiency projects that deliver environmental and financial results.

Funded by the European Commission’s Horizon 2020 programme, ICP Europe is a project of the Environmental Defense Fund to standardise energy efficiency upgrades using rigorous measurement and verification metrics in a way that makes them more attractive to investors and building owners alike. ICP’s Investor Ready Energy Efficiency ™

(IREE) certified projects are accredited against industry standards and best practices, which reduces transaction costs and increases confidence in savings to help engage private capital and scale up energy efficiency investments globally.

“The potential market for building retrofits in Europe is worth upwards of €100 billion per year, presenting a massive, untapped investment opportunity,” said Panama Bartholomy, Director of ICP Europe. “Offering investors a common language to compare risks and savings makes projects simpler, decisions easier, and project performance more reliable. We invite cities, building owners, and local governments that develop these types of projects to meet with our Investor Network to help finance them.”

ICP Europe’s Investor Network was developed to help address the needs of investors looking for standardised projects that reduce the time, risk, and costs involved in funding energy efficiency building retrofits. Charter members include: the European Energy Efficiency Fund administered by Deutsche Bank, SUSI Partners, Suma Capital, CleanTech Leasing, The Carbon and Energy Fund, Menhaden Capital, Energy Efficiency and Renewable Sources Fund, Joule Assets, PIB Insurance, Triodos Bank, Royal Bank of Scotland, Banco BPI, Amber Infrastructure, and Cut Power.

ICP Europe’s Investor Network brings together investors with over €1 billion available for energy efficiency retrofit projects, and comprises a wide range of energy efficiency financiers who recognise the value of standardised, investor-ready projects to increase deal flow and drive demand in the marketplace. As a result, some of the members offer developers incentives such as accelerated underwriting, reduced transaction fees, and preferable terms for certified projects.

“As an alternative, innovative financing instrument for energy efficiency projects in the public sector, we in Europe, believe standardised energy upgrade approaches can accelerate project progress and facilitate a more structured project development approach to get access to financing,” said Lada Strelnikova, Director Deutsche Asset Management and Investment Manager for the European Energy Efficiency Fund.

“The key obstacle that stands in the way of investors allocating capital to energy efficiency projects is the lack of any kind of standardisation. The ICP Europe Investor Network is a key step towards turning such projects into an investible asset class,” said Ben Goldsmith, CEO of Menhaden Capital Management LLP.

In addition to its Investor Network, ICP Europe has forged strategic alliances with the financial, real estate, and efficiency sectors in the form of an Ally Network and Steering Group to continue developing and maintaining its energy performance protocols, and make energy efficiency projects more market-ready and investor-friendly.

Interested parties can find more information on the ICP Europe’s Investor Network and funding for energy efficiency projects here . To get in touch with any of the Investor Network members about funding for energy efficiency projects, learn more about the Investor Confidence Project email panama.bartholomy@eeperformance.org .