Exploring innovative financing in energy retrofits in Latvia

Financing of energy retrofits is a crucial issue for local authorities and citizens in Latvia. Many of the municipalities have heavy heating debts and due to the budgetary restrictions, they are not able to invest in the renovations.

So far, mainly EU funds (such as Structural Funds or the Life Programme) have been used to finance retrofitting projects. However, there is not enough financial incentives to encourage energy efficiency renovations on a big scale.  Therefore, building capacities and knowledge of municipalities on innovative financing models (such as Energy Performance Contracting, revolving funds, green bonds etc.) can play a crucial role in triggering large scale renovations.

The CITYnvest event aims to:

1. Raise awareness of existing innovative financing instruments and demonstrate inspiring case studies that could be replicated in Latvian context
2. Identify recurrent and potential barriers for innovative financing instruments in energy efficiency retrofitting and brainstorm with participants on the future of those instruments in Latvia
3. Identify steps necessary to set up local action plans and implementation of specific actions
4. Encourage partnership-building

The event is mainly addressed to the Latvian local authorities, financial institutions, investors, ESCOs and policy makers from local and regional level and relevant institutions.

Films screened during the workshop are available on our Videos page [2].