Four of EUROCITIES member’s cities are currently benefitting from ELENA (European Local Energy Assistance) facility.
The projects are expected to generate a total investment of 511 million euros. ELENA provides grants for project development assistance to public and private project promoters. The facility was created by the European Commission and the European Investment Bank (EIB) to support the preparation of bankable, ambitious and large-scale investment programmes in energy efficiency and distributed renewable energy. Support from the ELENA facility can cover up to 90% of eligible project development costs, which may include expenses related to feasibility and market studies; programme structuring; energy audits; financial structuring and/or preparation of tendering procedures and contractual arrangements.
Picture credits: City of Gothenburg - Cable car development concept