European Islands Facility NESOI | New Energy Solutions Optimized for Islands

Original description

Funds are available to finance energy efficiency and renewable energy projects. Many islands are engaged in energy transition; however most of them haven’t the expertise to concretely launch investments, access finance and kick start the projects. NESOI aims at filling this gap through a hands-on approach allowing to get the expected financial leverage towards the effective implementation of islands’ energy transition plans. Starting with a broad survey gathering EU islands’ needs, NESOI provides a platform where islands can access both indirect and direct support: 1) Provided through a tailor-made digital platform, the indirect support consists in training material, best case examples, toolkit for technical and economic best practices and a cooperative space for islands, investors and technology developers; 2) Based on transparent technical, social, economic and environmental criteria, NESOI selects projects for customised direct support from consortium experts and from external ones for local aspects thanks to a cascade mechanism. NESOI supports projects at different stages of development, starting from early stage ones requiring a high-level technical & economic assistance, to more advanced ones asking for specific and detailed contributions on various fields (technical, legal, financial), putting forward a reality-check mindset, to make islands focus on solid projects with the potential to attract investors. NESOI implements capacity building and coaching activities to ensure raising awareness and capacity of public authorities' staff for developing investible projects with the aim to empower Local Communities in a success pursuit of the energy transition. Broad communication activities at EU level and links with other initiatives like BRIDGE and the Cities Facility are also foreseen. NESOI partners are strongly connected to investors, island communities and the energy innovation ecosystem, and intend to develop a sustainable business model for NESOI platform

Status

SIGNED

Url

https://cordis.europa.eu/project/id/864266

Call topic

LC-SC3-ES-8-2019

Update Date

26-10-2022