AER is happy and proud to share with its member regions and partners the first outcomes of the “100 solutions project campaign”, which was launched in June in partnership with R20 and Leonardo di Caprio Foundation.
This initiative aims at valorising regional green projects by giving them visibility on the international stage and by helping regions finance their green projects, either directly or indirectly. In particular, projects dealing with waste management, renewable energy and LED in street lighting.
The AER Secretariat launched an intense campaign towards its member regions in order to involve them in this valuable opportunity which could support their projects that foster and accellerate the transition to 100% clean and renewable energy for all people.
The response of AER regions has been very positive and we received 36 projects from the following regions, which shows a wide geographical distribution: Korca (AL), Fribourg (CH), Murcia (ES), Ajara (GEO), Imereti (GEO), Donegal (IR), Trentino Alto Adige (IT), Veneto (IT), Molise (IT), Madeira (PT), Sumadija and Pomoravlje (RS), Novi Sad (RS), Västra Götaland (SE), Denizli (TR), Kirsehir (TR), Mus (TR), Kahramanmaras (TR).
Worldwide the campaign attracted over 550 projects highlighting that the green market economy is maturing and local authorities are in the front line. The magnitude of the return to the “100 solutions project campaign” is such it will take longer than expected to study all the received applications.
Which are the investment funds involved?
Pre-investment funds dedicated to supporting local authorities in project preparation, and philanthropic investment funds (the Planet Pledge Fund) a well as conventional (the Green Investment Accelerator Facility) to access traditional funding mechanisms.
How the selection process works?
- All projects with a political commitment and technical backbone will bepreselected, declared eligible and by the end of October will be visible on the AER website. Each project declared eligible will be notified by an official letter.
- A first thorough evaluation of the eligible projects will be made before the end of 2016 by AER, the R20 and the Leonardo di Caprio Foundation. This evaluation aims to identify three types of projects: i) projects that, after verification, may be submitted directly to the involved investment funds; ii) projects which will be submitted to dedicated pre-investment funds, to have their feasibility studies conducted, leading to their bankability; and iii) the projects that, in their current state, cannot be financed. For the latter projects, a platform for exchange and counselling will be provided, to accompany and lead them to maturity.
- Projects qualifying for pre-investment funds will be submitted early 2017 and they will be evaluated according to these funds’ specific criteria. The missions will start in the first quarter of 2017.
- Considering the extent of the needs expressed, an online support tool for cities and regions will be set up, enabling access to more information about the best sub-national legislative and institutional practices in the green economy, the best technologies and the different financial instrument.
Through this step-by-step approach, by 2020, the objective is to enable the bankability of at least a hundred projects that can then be funded through the investment funds mentioned above, as well as through the contribution of many private co-investors, for whom the participation of the above funds may serve as an opportunity indicator.
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