ESCO start up set up ESCO development is one of the strongest areas of knowledge of Creara International.
Energy performance contracting (EPC) encompasses the financing, planning, implementation, and supervision of energy saving measures. It can be applied wherever energy is utilized: lighting, heating, or cooling of buildings, street lighting, and other areas such as specific industrial applications. The Energy Service company (ESCO) implements energy saving or energy efficiency improvement measures, which are connected to a savings guarantee. Such guarantees form part of every EPC contract. The ESCO gets remunerated for its investments through a share of the realized energy costs savings for a predefined amount of time.
Although the potential to develop ESCO projects is considerable, there are barriers that make it difficult to reach the project implementation stage. High transaction costs, regulation provisions, lack of general awareness and understanding of performance contracting and outsourcing are some of the barriers that ESCOs face.
Creara International has extensive experience on promoting the development of ESCO markets, helping governments and institutions to remove the barriers by enabling the legal, institutional and economic environment for ESCO development, stand-up an ESCO new buisiness for a company, enhance the operation and profitability of an existing ESCO, develop financing mechanisms for ESCO programs.
See below an example of Creara International's work in this field:
Support the USAID Municipal Heating Reform Project – Ukraine
Development of an ESCO at Unión Fenosa – Spain
Support to Technical Services Providers (Sustainable Energy Finance Program, C-SEF) – Colombia