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Sustainable energy investments: Over 90% of ELENA funds granted to Covenant local and regional authorities
The majority of [ELENA->http://www.eib.org/products/elena/index.htm?lang=en] projects approved by the European Investment Bank were submitted by Covenant Signatories and Coordinators. Putting together sound investment programmes to finance sustainable energy projects is a considerable challenge for Covenant signatory cities. To support them in the process, the ELENA facility was launched in the early stages of the initiative, and has up to now triggered local investments of an estimated 2.8 billion in energy savings and renewable energy production.
 
   

Projects rolled out in the field of energy efficiency, renewables and sustainable transport have had considerable job creation impacts : in the Province of Barcelona, 3,000 jobs were created resulting from the installation and maintenance of photovoltaics and some 2,000 linked to energy efficiency will be created/sustained thanks to the €500 million investment programme.

ELENA is an essential step towards securing the large investments needed to finance measures outlined in signatories’ Sustainable Energy Action Plans. With this in mind, it’s no surprise that 18 out of 20 approved projects have been submitted by Covenant Signatories/Coordinators who have been granted €34 out of 36 million from ELENA technical assistance funding, ie 93% of the total envelope. More information can be found on the ELENA facility’s website.

 
     
    >> Covenant Monthly Newsletter March 2013 <<
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  The sole responsibility for the content of this newsletter lies with the Covenant of Mayors Office. It does not necessary reflect the opinion of the European Union. The European Commission is not responsible for any use that may be made of the information contained therein. The Covenant of Mayors was set up with financial support of the European Commission and consists of five associations of European local authorities: Energy Cities, Climate Alliance, Eurocities, CEMR, and Fedarene.

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