Innovative financial instruments to support energy sector SMEs in Med area

Programme 2007 - 2013 Programme MED

Date of latest update: 2021-12-25

Description

Description (EN):

Energy sector SMEs in MED area are considered a strategical development asset for the Area because of their strong link with natural resources available(from sun to wind through water) and the increasing demand of energy coming from the industrial sectors and human communities. The link between energy sectors SMEs and sustainable development is clear to all Actors working for the economic development of MED countries and the alignment of National Energy Plans to the EU 2020 Energy Plan is ongoing. Moreover, during past years, the sectors have been fully supported both by EU and National funds (mainly through the grant instrument) and many incentives (both related to the implementation of innovative technology processes and the production of RES) triggered the birth of energy saving and energy efficiency SMEs and clusters in many areas together with companies in charge to provide energy services(ESCO) both to entreprise and citizens. According to this context, Public(EU and National/Regional Authorities) and Private investors (mainly venture capital, business angels network and Banks) have approached the sectors, even if with generic risk evaluation instruments. Generally speaking, in fact, the market of capitals and subsidies for the sector is well developed in Europe (but less in South Europe). On the other side, it was clear to all investors that the energy sector development capacity is strictly related to their dependence on regulation and subsidies by EU, National and local institution, and this variable is consider a limit for the decisions to be taken. In fact, this scenario, particularly in France, Spain, Italy and Greek, is now changing due to the financial crisis and the following cut of public funds and availability of money for investments. Due to this situation, policy makers and investors are forced to stop or drastically reduce investments and incentives. According to this short state of the art analysis, FIREMED project intends to approach both Local Development Plans and Operators in charge to assist energy sector SMEs. For the former, the Project is intending to elaborate innovative model of funding instruments to be introduced in their Local Development Plans according to the Innovative Financial Instruments that are going to be set up at EU Level for the Programme Period 2014-2020. For the latter, FIREMED Project intends to stimulate both a high level of attention, thanks to dedicated services and instruments, and an increased attitude to invest in the sectors, thanks to a more detailed knolwedge of the energy sectors capacities and potentialities. The Financial schemes developed by the Project and trasferred through feasibilities studies into development plans and the services implemented dedicated both to financial operators and energy sectors SMEs will constitute an overall model elaborated by the FIREMED partnership to support the development of entrepreneurship in MED Area combining private and public efforts.

Achievements (EN):

Best practice: The web platform Support to finance.eu Support to finance platform gathered together three European funded projects which have the common objectives of facilitating the access of European small and medium enterprises both to public and private financial resources. More than 30 among public and private European Institutions worked together in order to create an useful online platform both for companies and financial operators. The three European projects involved in this challenge was EVLIA, FIDIAS and FIREMED of three different European Programs, respectively of South East Program, Alpine Space Program and INTERREG MED Program. The FIREMED area of the Support to finance platform offers companies a set of innovative financial services to access funds including the chance to set up individual meetings with private investors. It also hosts a database of public and private financial operators and a set of innovative financial instruments increasing the possibilities to companies to obtain funding. With the FIREMED services hosted in the platform, companies can develop their technical skills in writing business plans and can have at their disposal a simple interactive online service to outline the numerous EU financing possibilities related to the sector of eco-innovation and energy sector. FIREMED services also supports investors and public financial operators in dealing with companies energy projects providing them with an easy assessment questionnaire for selecting energy efficiency and renewable energy projects that request financing. Best practice: the relationship with financial operators in Veneto area FIREMED project met a large number of local financial operators among banks, local and regional public institutions and business representatives in order to stimulate their participation in giving requirements and suggestions for implementing financial instruments and financial services that would help local SMEs in accessing credit. Within FIREMED project, at the end of January 2015, Veneto Region had the opportunity to present to public entities the new financial engineering measures to support green businesses in regional planning 2014-2020 and the Chamber of Commerce of Venice to illustrate the financial services addressed to SMEs that would meet the financial operators’ expectations. Moreover, still at the end of January 2015, the Chamber of Commerce of Venice set a working table with fourteen Veneto Credit Institutions in order to strengthen the relationship with Banks and to maintain a lasting cooperation.

Thematic information

Clustering and economic cooperation SME and entrepreneurship Energy efficiency

Partners (15)

Lead Partner: Veneto Region - Project Unit Research and Innovation, Vénétie

Address: Venice, Italy

Legal status: n/a

Cyclades Chamber / Notio Aigaio (Sud de l'Egée)

Name: Cyclades Chamber / Notio Aigaio (Sud de l'Egée)

Address: Ermoupolis - Syros, Greece

Legal status: n/a

Region of Peloponnese / Peloponnisos (Péloponnèse)

Name: Region of Peloponnese / Peloponnisos (Péloponnèse)

Address: Tripoli, Greece

Legal status: n/a

Andalusian Council of Chambers of Commerce

Name: Andalusian Council of Chambers of Commerce

Address: Sevilla, Spain

Legal status: n/a

ARDI - Rhône-Alpes

Name: ARDI - Rhône-Alpes

Address: Lyon, France

Legal status: n/a

Chamber of Commerce & Industry of Marseille Provence, Provence-Alpes-Côte d'Azur

Name: Chamber of Commerce & Industry of Marseille Provence, Provence-Alpes-Côte d'Azur

Address: Marseille, France

Legal status: n/a

Istarska županija

Name: Istarska županija

Address: Pazin, Croatia

Legal status: n/a

Chamber of Commerce Industry Craft and Agriculture of Venice

Name: Chamber of Commerce Industry Craft and Agriculture of Venice

Address: Marghera, Italy

Legal status: n/a

Capital City - Podgorica

Name: Capital City - Podgorica

Address: Podgorica, Montenegro

Legal status: n/a

Agency for Innovation and Development of Andalucía

Name: Agency for Innovation and Development of Andalucía

Address: Sevilla, Spain

Legal status: n/a

Finlombarda Spa

Name: Finlombarda Spa

Address: Milan, Italy

Legal status: n/a

CHAMBRE DE COMMERCE ET D'INDUSTRIE DE CHYPRE

Name: CHAMBRE DE COMMERCE ET D'INDUSTRIE DE CHYPRE

Address: Nicosia, Cyprus

Legal status: n/a

Jožef Stefan institute Slovenia

Name: Jožef Stefan institute Slovenia

Address: Ljubljana, Slovenia

Legal status: n/a

Council of Chambers of Commerce, Industry and Navigation of the Valencia Region

Name: Council of Chambers of Commerce, Industry and Navigation of the Valencia Region

Address: Valencia, Spain

Legal status: n/a

ASCAME - Association of Mediterranean Chambers of Commerce and Industry, Catalogne

Name: ASCAME - Association of Mediterranean Chambers of Commerce and Industry, Catalogne

Address: Barcelona, Spain

Legal status: n/a

Partners map

Partners and Projects info

Cyclades Chamber / Notio Aigaio (Sud de l'Egée)

Innovative financial instruments to support energy sector SMEs in Med area

Partners and Projects info

Region of Peloponnese / Peloponnisos (Péloponnèse)

Innovative financial instruments to support energy sector SMEs in Med area

Partners and Projects info

Andalusian Council of Chambers of Commerce

Innovative financial instruments to support energy sector SMEs in Med area

Partners and Projects info

ARDI - Rhône-Alpes

Innovative financial instruments to support energy sector SMEs in Med area

Partners and Projects info

Chamber of Commerce & Industry of Marseille Provence, Provence-Alpes-Côte d'Azur

Innovative financial instruments to support energy sector SMEs in Med area

Partners and Projects info

Region of Istria

Innovative financial instruments to support energy sector SMEs in Med area

Partners and Projects info

Chamber of Commerce Industry Craft and Agriculture of Venice

Innovative financial instruments to support energy sector SMEs in Med area

Partners and Projects info

Capital City - Podgorica

Innovative financial instruments to support energy sector SMEs in Med area

Partners and Projects info

Agency for Innovation and Development of Andalucía

Innovative financial instruments to support energy sector SMEs in Med area

Partners and Projects info

Finlombarda Spa

Innovative financial instruments to support energy sector SMEs in Med area

Partners and Projects info

CYPRUS CHAMBER OF COMMERCE AND INDUSTRY

Innovative financial instruments to support energy sector SMEs in Med area

Partners and Projects info

Jožef Stefan institute Slovenia

Innovative financial instruments to support energy sector SMEs in Med area

Partners and Projects info

Council of Chambers of Commerce, Industry and Navigation of the Valencia Region

Innovative financial instruments to support energy sector SMEs in Med area

Partners and Projects info

ASCAME - Association of Mediterranean Chambers of Commerce and Industry, Catalogne

Innovative financial instruments to support energy sector SMEs in Med area

Partners and Projects info

Veneto Region - Project Unit Research and Innovation, Vénétie

Innovative financial instruments to support energy sector SMEs in Med area

Lead partner

Project partner

Summary

Project name (EN): Innovative financial instruments to support energy sector SMEs in Med area

Project acronym: FireMed

Project status: closed

Total budget/expenditure: EUR 2 292 700.00

Total EU funding (amount): EUR 1 747 605.00

Co-financing sources:

Information regarding the data in keep.eu on the programme financing this project

Financing programme

2007 - 2013 Programme MED

Last month that data in keep.eu was retrieved from the Programme's website or received from the Programme

2015-12-01

No. of projects in keep.eu / Total no. of projects (% of projects in keep.eu)

159 / 159 (100%)

No. of project partnerships in keep.eu / Total no. of project partnerships (% of project partnerships in keep.eu)

1 395 / 1 395 (100%)

Notes on the data

Information provided by the programme and collected from programme's website

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Innovative financial instruments to support energy sector SMEs in Med area

Description

Thematic information

Partners (15)

Partners map

Summary

Information regarding the data in keep.eu on the programme financing this project

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