SER "Social Energy Renovations: Maximizing social impact and boosting clean energy investments in the non-profit sector through de-risking, aggregation, and capacity building"
Azione di coordinamento e supporto finanziata dal Programma Europeo H2020 Energy (2020-2024)
In Europe, the non-profit sector employs 28 million full-time workers engaged in education, research, housing, counselling, workforce training and other social activities. The sector remains underserved by the financial industry, making it challenging to obtain funding to undertake clean energy investments. SER consortium represents an ideal mix of partners including a specialized lender, an ESCO, a financing and de-risking advisory, social impact experts, an energy agency and local replicators. It brings together 7 organizations, from 4 EU countries, to maximize social impact by boosting clean energy investments in the non-profit sector, and to design, set up, and implement an innovative de-risking financing mechanism that entails financing and technical standardization, project aggregation, social impact assessment and credit enhancement.
Under SER’s financing scheme, an ESCO raises low-cost long-term capital via a forfaiting contracts to a financing instrument coupled with a de-risking mechanism. Social enterprises gain access to affordable sustainable renovations, coupled with technical assistance, while investors gain access to secure, high impact investments aligned with ESG and impact investment criteria.
SER is positioned to strengthen social impact involving energy poverty mitigation, improvements in social inequality, health, wellbeing, productivity, financial literacy, and overall social cohesion. Activities will initially focus Italy, to be replicated in Bulgaria and France, and exploratory efforts in Germany, Czech Republic, Slovakia, and Poland.