PURPOSE: to amend Regulation (EC) No 663/2009\nestablishing a programme to aid economic recovery by granting\nCommunity financial assistance to projects in the field of\nenergy.
\nPROPOSED ACT: Regulation of the European\nParliament and of the Council.
\nBACKGROUND: Regulation\n(EC) no 663/2009 established a programme to aid economic\nrecovery for Europe (EEPR) by granting €3.98 billion by the\nend of 2010. This Community financing was allocated to three\nsub-programmes in the field of gas and electricity infrastructure\nprojects; offshore wind electricity projects (OWE), and carbon\ncapture and storage projects (CCS).
\nIt is estimated in the report\nfrom the Commission of 27 April 2010 on the implementation of\nthe EEPR that almost the entire EEPR financial envelope will be\ncommitted in the course of spring 2010. An amount of around\n€114 million will however not be committed under the EEPR\nRegulation. The amount of uncommitted funds will be known by\nthe end of 2010.
\nIn the spirit of the Europe\n2020 strategy for sustainable growth and jobs, the development\nof further renewable sources and the promotion of energy efficiency\nwould contribute to Greener Growth, building a competitive and\nsustainable economy, and tackling climate change. By giving support\nto these policies, Europe will create new jobs and green market\nopportunities fostering the development of a competitive, secure\nand sustainable economy.
\nProviding for increased financial incentive and\ntechnical assistance is a key element to address the barriers of\nhigh up-front cost and lack of information and stimulate\nsustainable energy improvements. In a market constrained by the\nprevailing economical crises and in a time of caution by commercial\nbanks, generating low investment rates, there are additional\nbarriers for project financing to promote this policy area.\nExisting experiences across Europe demonstrate how well-targeted\nand well-designed financial aid policies can lead to massive\nimprovement and succeed to tap the development potential of\nsustainable energy.Investments help in sustainable energy can be\nmost effective and beneficial when targeted at municipal and local\nlevels.
\nIn the 2nd\nStrategic Energy Review, the European Commission's announced\nits intention to launch a Sustainable Energy Financing\nInitiative in cooperation with the European Investment Bank and\nother International Financial Institutions (IFIs) in order to\nestablish appropriate financing mechanisms for the massive\ndevelopment of energy efficiency and renewable energies.
\nA dedicated financial instrument to support\nenergy efficiency and renewable initiatives within the Sustainable\nEnergy Financing Initiative should therefore be created to use the\nuncommitted funds under Chapter II of Regulation (EC) No\n663/2009.
\nIMPACT ANALYSIS: no impact analysis was carried\nout.
\nLEGAL BASIS: Article 194(1)(c) of the\nTreaty on the functioning of the European Union (TFEU).
\nCONTENT: the Commission is proposing to use the\nuncommitted funds under Chapter II of the EEPR Regulation for the\ncreation of a dedicated financial instrument to support energy\nefficiency and renewable initiatives within the Sustainable Energy\nFinancing Initiative. The financial facility shall support the\ndevelopment of bankable energy efficiency and renewable energy\nprojects and facilitate the financing of investments in energy\nefficiency and renewable energy, in particular in urban settings.\nIn order to foster a large number of decentralised investments,\nmunicipal, local and regional public authorities will be the\nbeneficiaries. The approach will build up on the success of the\nCovenant of Mayors, signed up by more than 1600 regions and cities\nacross Europe.
\nThe sustainable energy\nprojects to be\nfinanced include public and private buildings, high energy\nefficient combined heat and power (CHP) and district\nheating/cooling networks (in particular from renewable energy\nsources), decentralised renewable energy sources embedded in local\nsettings, clean urban transport and local infrastructure such as\nsmart grids, efficient street lighting, and smart\nmetering.
\nSo as to maximise the impact of the EU funding\nin the short term, the facility should be managed by one or\nseveral financial intermediaries such as International\nFinancial Institutions (IFIs). The selection should be operated on\nthe basis of the demonstrated capacity of the financial\nintermediaries to use the funding in the most efficient and\neffective way and with the highest leverage between the EU funding\nand the total investment in order to raise significant investments\nin the EU.
\nIn compliance with Regulation (EC) No 663/2009,\nthe facility should be limited to the financing of measures that\nhave a rapid, measurable and substantial impact on economic\nrecovery within the EU, increased energy security and reduction\nof greenhouse gas emissions. The criteria set out in Regulation\n(EC) No 663/2009 should fully apply to the selection and\neligibility of the measures financed under the facility. The\ngeographical balance of the projects should also be taken into\naccount as an essential element.
\nSince the exact amount of uncommitted funds may\nbe known just by the end of 2010, individual legal commitments\nimplementing budgetary commitments should be made by 31 March\n2011.
\nDue to the urgent need to address the economic\ncrises and the Union's pressing energy needs, expenditure should be\neligible as from 13 July 2009 as many applicants requested the\neligibility of expenditure from the submission of the grant\napplication in line with Regulation (EC, Euratom) No 1605/2002\n(Financial Regulation).
\nBUDGETARY IMPLICATION: this proposal has no\nimplication for the European Union's budget.
\nThe Committee on Industry, Research and Energy adopted\nthe report drafted by Kathleen VAN BREMPT\n(S&D, BE) on the proposal for a regulation of the\nEuropean Parliament and of the Council amending Regulation (EC) No\n663/2009 establishing a programme to aid economic recovery by\ngranting Community financial assistance to projects in the field of\nenergy (EERP).
\nIt recommended that the European Parliament's\nposition at first reading under the ordinary legislative procedure\n(formerly known as the codecision procedure) should be to amend the\nCommission proposal as follows:
\nFinancial Facility: the report states that the\nfacility shall be limited to the financing of investment projects\nand technical assistance for renewable energy and energy\nefficiency projects. Such investment projects contribute to\ngreen growth, the development of a competitive, connected,\nsustainable and green economy, as well as to the protection of\nemployment, job creation and tackling climate change, in accordance\nwith the \"Europe\n2020\" objectives. These shall include, in particular, projects\nconcerning:
\nThe facility shall sustain investment projects\ndemonstrating an economic and financial viability, in order\nto refund the investments allocated by the facility and to attract\npublic and private investments.
\nFurthermore, up to 15% of the funding that\ncannot be committed under Chapter II of Regulation (EC) 663/2009\nmay be used to provide technical assistance to local, regional or\nnational, authorities on the setting up of, and on the initial\ndeployment phase of technology related to, energy efficiency and\nrenewable energy projects.
\nFinancial\nintermediaries:\nthe proposal provides that the financial facility should be managed\nby one or several financial intermediaries. According to the\nreport, the financial intermediaries shall endeavour to allocate\nall the funding from the Union contribution available in the\nfacility to investment projects and to technical assistance for\nrenewable energy and energy efficiency projects by 31 March\n2014. No funding from the Union contribution shall be allocated\nafter that date.
\nAll funding from the Union contribution not\nallocated by the financial intermediaries by 31 March 2014 shall be\nreturned to the Union budget. The funding from the Union\ncontribution allocated to investment projects shall remain invested\nfor a specified length of time that may not extend beyond 31\nMarch 2034.
\nThe Union shall be entitled to returns on its\ninvestment in the facility throughout the lifetime of the facility,\nin proportion to its contribution to the facility and in accordance\nwith its shareholder rights.
\nThe selection of such financial intermediaries\nshould take place on the basis of their demonstrated ability to use\nthe funding in the most efficient and effective way, with the\nobjective of maximising the participation, within the shortest\npossible time, of other public and private investors.
\nFunding that cannot be committed\nunder Chapter II of Regulation (EC) 663/2009:funding which cannot be subject\nto individual legal commitments under Chapter II for an amount of\nEUR 146.344.644,50 shall be for the facility for the purpose of\ndeveloping suitable funding instruments in cooperation with\nfinancial institutions.
\nEligibility of\nexpenditure: due\nto the urgent need to address the economic crisis, the report\nstates that expenditure incurred under Chapter II of Regulation\n(EC) 663/2009 should be eligible as from 13 July 2009.\n Expenditure incurred under Chapter IIa should be eligible as\nfrom 1 January 2011.
\nSynergies:Members consider that when\ngranting financial or technical assistance, attention shall also be\npaid to synergies with other financial resources available in the\nMember States, such as the Structural and Cohesion Funds and the\nEuropean Local Energy Assistance (ELENA) Facility, in order to\navoid overlaps with other instruments. The facility shall make\navailable online all information on programme management\nthat is relevant for interested parties.
\nFactors to be taken into\naccount: as\nregards the selection of projects, particular attention shall be\npaid to the geographical balance.
\nAs regards the financing of investment\nprojects, the leverage factor for individual investment projects\nmay vary, depending on a number of factors such as the actual\nsize and type of a project and on local conditions including the\nsize and financial capabilities of the beneficiary.
\nConditions for public authorities' access to financing\nunder the facility: public\nauthorities requesting financing shall comply with the following\nconditions:
\nEvaluation and reporting: by 30 June 2013 the Commission shall submit a\nmid-term evaluation report on the measures taken under the\nFinancial Facility. The report shall be accompanied by a\nlegislative proposal for the continuation of the\nfacility.
\nThe European Parliament adopted by 582 votes to\n27, with 7 abstentions, a legislative resolution on the proposal\nfor a regulation of the European Parliament and of the Council\namending Regulation (EC) No 663/2009 establishing a programme to\naid economic recovery by granting Community financial assistance to\nprojects in the field of energy (EERP).
\nThe European Parliament adopted its position at\nfirst reading under the ordinary legislative procedure (formerly\nknown as the codecision procedure). The amendments adopted in\nplenary are the result of a compromise negotiated between the\nEuropean Parliament and the Council.
\nFinancial Facility: the resolution states that the\nfinancial facility shall be used for the development of energy\nsaving, energy efficiency and renewable energy projects and shall\nfacilitate the financing of investments in those areas by local,\nregional and, in duly justified cases, national public authorities.\nSuch investment projects contribute to green growth, the\ndevelopment of a competitive, connected, sustainable and green\neconomy, as well as to the protection of employment, job creation\nand tackling climate change, in accordance with the \"Europe 2020\" objectives. These shall include, in\nparticular, projects concerning:
\nThe facility shall be used for sustainable energy\nprojects, in particular in urban settings. This shall include, in\nparticular, projects concerning :
\nThe facility shall sustain investment projects\ndemonstrating an economic and financial viability, in order\nto refund the investments allocated by the facility and to attract\npublic and private investments.
\nFurthermore, up to 15% of the funding that\ncannot be committed under Chapter II of Regulation (EC) 663/2009\nmay be used to provide technical assistance to local, regional or\nnational, authorities on the setting up of, and on the initial\ndeployment phase of technology related to, energy efficiency and\nrenewable energy projects.
\nIt should be noted that the facility should not\nconstitute a precedent with regard to the use of the Union budget\nand possible future funding measures, including in the energy\nsector, but should be considered rather as an exceptional\nmeasure adopted during a period of economic\ndifficulty
\nFinancial intermediaries: the financial facility should be managed by one or\nseveral financial intermediaries. According to the amended text,\nthe financial intermediaries shall endeavour to allocate all the\nfunding from the Union contribution available in the facility to\ninvestment projects and to technical assistance for renewable\nenergy and energy efficiency projects by 31 March 2014. No\nfunding from the Union contribution shall be allocated after that\ndate.
\nAll funding from the Union contribution not\nallocated by the financial intermediaries by 31 March 2014 shall be\nreturned to the Union budget. The funding from the Union\ncontribution allocated to investment projects shall remain invested\nfor a specified length of time that may not extend beyond 31\nMarch 2034.
\nThe Union shall be entitled to returns on its\ninvestment in the facility throughout the lifetime of the facility,\nin proportion to its contribution to the facility and in accordance\nwith its shareholder rights.
\nThe selection of such financial intermediaries\nshould take place on the basis of their demonstrated ability to use\nthe funding in the most efficient and effective way, with the\nobjective of maximising the participation, within the shortest\npossible time, of other public and private investors.
\nFunding that cannot be committed\nunder Chapter II of Regulation (EC) 663/2009: funding which cannot be subject\nto individual legal commitments under Chapter II for an amount of\nEUR 146.344.644,50 shall be for the facility for the purpose of\ndeveloping suitable funding instruments in cooperation with\nfinancial institutions.
\nEligibility of\nexpenditure: due\nto the urgent need to address the economic crisis, the resolution\nstates that expenditure incurred under Chapter II of Regulation\n(EC) 663/2009 should be eligible as from 13 July 2009.\n Expenditure incurred under Chapter IIa should be eligible as\nfrom 1 January 2011.
\nSynergies: Parliament considers that when\ngranting financial or technical assistance, attention shall also be\npaid to synergies with other financial resources available in the\nMember States, such as the Structural and Cohesion Funds and the\nEuropean Local Energy Assistance (ELENA) Facility, in order to\navoid overlaps with other instruments. The facility shall make\navailable online all information on programme management\nthat is relevant for interested parties.
\nFactors to be taken into\naccount: as\nregards the selection of projects, particular attention shall be\npaid to the geographical balance.
\nAs regards the financing of investment\nprojects, the leverage factor for individual investment projects\nmay vary, depending on a number of factors such as the actual\nsize and type of a project and on local conditions including the\nsize and financial capabilities of the beneficiary.
\nConditions for public authorities'\naccess to financing under the facility: public authorities requesting financing shall\ncomply with the following conditions:
\nEvaluation and\nreporting: by 30\nJune 2013 the Commission shall submit a mid-term evaluation report\non the measures taken under the Financial Facility. The report\nshall be accompanied by a legislative proposal for the continuation\nof the facility.
\nPURPOSE: to create a\ndedicated financial instrument to support energy efficiency and\nrenewable initiatives within the Sustainable Energy Financing\nInitiative.
\nLEGISLATIVE ACT:\nRegulation (EU) No 1233/2010 of the European Parliament and of the\nCouncil amending Regulation (EC) No 663/2009 establishing a\nprogramme to aid economic recovery by granting Community financial\nassistance to projects in the field of energy.
\nCONTENT: following a\nfirst-reading agreement reached with the European Parliament, the\nCouncil adopted this Regulation allowing for the financing of\ninvestment projects in the area of energy efficiency and energy\nfrom renewable sources, by local, regional and national public\nauthorities, in particular in urban settings.
\nThe total amount allocated\nto this financial facility is EUR 146.3 million which comes\nfrom unspent funds from the European Energy Programme for Recovery\nas established by regulation 663/2009, in line with the Commission\ndeclaration annexed to the regulation.
\nRegulation 663/2009\nestablished a programme to aid economic recovery in Europe by\ngranting EUR 3.98 billion for 2009 and 2010 to projects in the\nfield of energy, in particular gas and electricity infrastructure,\noffshore wind electricity and carbon capture and storage\n(CCS).
\nThe\nfacility shall be used, in\nparticular, for projects concerning:
\n\n· \npublic\nand private buildings incorporating energy efficiency and/or\nrenewable energy solutions including those based on the usage of\nInformation and Communication Technologies (ICT);
\n\n· \ninvestments in high energy\nefficient combined heat and power (CHP), including\nmicro-cogeneration, and district heating/cooling networks, in\nparticular from renewable energy sources;
\n\n· \ndecentralised renewable\nenergy sources embedded in local settings and their integration in\nelectricity grids;
\n\n· \nmicro-generation from\nrenewable energy sources;
\n\n· \nclean\nurban transport to support increased energy efficiency and\nintegration of renewable energy sources, with an emphasis on public\ntransport, electric and hydrogen vehicles and reduced greenhouse\ngas emissions;
\n\n· \nlocal\ninfrastructure, including efficient lighting of outdoor public\ninfrastructure such as street lighting, electricity storage\nsolutions, smart metering, and smart grids, that make full usage of\nICT;
\n\n· \nenergy\nefficiency and renewable energy technologies with innovation and\neconomic potential using the best available procedures.
\nThe facility may be also\nused to provide incentives and technical assistance as well\nas to raise the awareness of local, regional and national\nauthorities so as to ensure optimal use of the Structural and\nCohesion Funds, in particular in the areas of energy efficiency and\nrenewable energy improvements in housing and other types of\nbuildings. The facility shall sustain investment projects\ndemonstrating an economic and financial viability, in order\nto refund the investments allocated by the facility and to attract\npublic and private investments.
\nThus, the facility may,\ninter alia, include provisioning and capital allocation for loans,\nguarantees, equity and other financial products. Furthermore, up to\n15% of the funding may be used to provide technical assistance to\nlocal, regional or national, authorities on the setting up of, and\non the initial deployment phase of technology related to, energy\nefficiency and renewable energy projects.
\nTo maximise the impact of\nthe Union funding in the short term, the facility should be\nmanaged by one or more financial intermediaries such as\ninternational financial institutions.
\nEvaluation\nreport: by 30 June 2013, the\nCommission shall submit to the European Parliament and the Council\na mid-term evaluation report on the measures taken under the\nfinancial facility. The report shall, if appropriate, be\naccompanied by a legislative proposal for the continuation of the\nfacility.'
\nENTRY INTO FORCE:\n30/12/2010.
\nPURPOSE: to amend Regulation (EC) No 663/2009\nestablishing a programme to aid economic recovery by granting\nCommunity financial assistance to projects in the field of\nenergy.
\nPROPOSED ACT: Regulation of the European\nParliament and of the Council.
\nBACKGROUND: Regulation\n(EC) no 663/2009 established a programme to aid economic\nrecovery for Europe (EEPR) by granting €3.98 billion by the\nend of 2010. This Community financing was allocated to three\nsub-programmes in the field of gas and electricity infrastructure\nprojects; offshore wind electricity projects (OWE), and carbon\ncapture and storage projects (CCS).
\nIt is estimated in the report\nfrom the Commission of 27 April 2010 on the implementation of\nthe EEPR that almost the entire EEPR financial envelope will be\ncommitted in the course of spring 2010. An amount of around\n€114 million will however not be committed under the EEPR\nRegulation. The amount of uncommitted funds will be known by\nthe end of 2010.
\nIn the spirit of the Europe\n2020 strategy for sustainable growth and jobs, the development\nof further renewable sources and the promotion of energy efficiency\nwould contribute to Greener Growth, building a competitive and\nsustainable economy, and tackling climate change. By giving support\nto these policies, Europe will create new jobs and green market\nopportunities fostering the development of a competitive, secure\nand sustainable economy.
\nProviding for increased financial incentive and\ntechnical assistance is a key element to address the barriers of\nhigh up-front cost and lack of information and stimulate\nsustainable energy improvements. In a market constrained by the\nprevailing economical crises and in a time of caution by commercial\nbanks, generating low investment rates, there are additional\nbarriers for project financing to promote this policy area.\nExisting experiences across Europe demonstrate how well-targeted\nand well-designed financial aid policies can lead to massive\nimprovement and succeed to tap the development potential of\nsustainable energy.Investments help in sustainable energy can be\nmost effective and beneficial when targeted at municipal and local\nlevels.
\nIn the 2nd\nStrategic Energy Review, the European Commission's announced\nits intention to launch a Sustainable Energy Financing\nInitiative in cooperation with the European Investment Bank and\nother International Financial Institutions (IFIs) in order to\nestablish appropriate financing mechanisms for the massive\ndevelopment of energy efficiency and renewable energies.
\nA dedicated financial instrument to support\nenergy efficiency and renewable initiatives within the Sustainable\nEnergy Financing Initiative should therefore be created to use the\nuncommitted funds under Chapter II of Regulation (EC) No\n663/2009.
\nIMPACT ANALYSIS: no impact analysis was carried\nout.
\nLEGAL BASIS: Article 194(1)(c) of the\nTreaty on the functioning of the European Union (TFEU).
\nCONTENT: the Commission is proposing to use the\nuncommitted funds under Chapter II of the EEPR Regulation for the\ncreation of a dedicated financial instrument to support energy\nefficiency and renewable initiatives within the Sustainable Energy\nFinancing Initiative. The financial facility shall support the\ndevelopment of bankable energy efficiency and renewable energy\nprojects and facilitate the financing of investments in energy\nefficiency and renewable energy, in particular in urban settings.\nIn order to foster a large number of decentralised investments,\nmunicipal, local and regional public authorities will be the\nbeneficiaries. The approach will build up on the success of the\nCovenant of Mayors, signed up by more than 1600 regions and cities\nacross Europe.
\nThe sustainable energy\nprojects to be\nfinanced include public and private buildings, high energy\nefficient combined heat and power (CHP) and district\nheating/cooling networks (in particular from renewable energy\nsources), decentralised renewable energy sources embedded in local\nsettings, clean urban transport and local infrastructure such as\nsmart grids, efficient street lighting, and smart\nmetering.
\nSo as to maximise the impact of the EU funding\nin the short term, the facility should be managed by one or\nseveral financial intermediaries such as International\nFinancial Institutions (IFIs). The selection should be operated on\nthe basis of the demonstrated capacity of the financial\nintermediaries to use the funding in the most efficient and\neffective way and with the highest leverage between the EU funding\nand the total investment in order to raise significant investments\nin the EU.
\nIn compliance with Regulation (EC) No 663/2009,\nthe facility should be limited to the financing of measures that\nhave a rapid, measurable and substantial impact on economic\nrecovery within the EU, increased energy security and reduction\nof greenhouse gas emissions. The criteria set out in Regulation\n(EC) No 663/2009 should fully apply to the selection and\neligibility of the measures financed under the facility. The\ngeographical balance of the projects should also be taken into\naccount as an essential element.
\nSince the exact amount of uncommitted funds may\nbe known just by the end of 2010, individual legal commitments\nimplementing budgetary commitments should be made by 31 March\n2011.
\nDue to the urgent need to address the economic\ncrises and the Union's pressing energy needs, expenditure should be\neligible as from 13 July 2009 as many applicants requested the\neligibility of expenditure from the submission of the grant\napplication in line with Regulation (EC, Euratom) No 1605/2002\n(Financial Regulation).
\nBUDGETARY IMPLICATION: this proposal has no\nimplication for the European Union's budget.
\nThe Committee on Industry, Research and Energy adopted\nthe report drafted by Kathleen VAN BREMPT\n(S&D, BE) on the proposal for a regulation of the\nEuropean Parliament and of the Council amending Regulation (EC) No\n663/2009 establishing a programme to aid economic recovery by\ngranting Community financial assistance to projects in the field of\nenergy (EERP).
\nIt recommended that the European Parliament's\nposition at first reading under the ordinary legislative procedure\n(formerly known as the codecision procedure) should be to amend the\nCommission proposal as follows:
\nFinancial Facility: the report states that the\nfacility shall be limited to the financing of investment projects\nand technical assistance for renewable energy and energy\nefficiency projects. Such investment projects contribute to\ngreen growth, the development of a competitive, connected,\nsustainable and green economy, as well as to the protection of\nemployment, job creation and tackling climate change, in accordance\nwith the \"Europe\n2020\" objectives. These shall include, in particular, projects\nconcerning:
\nThe facility shall sustain investment projects\ndemonstrating an economic and financial viability, in order\nto refund the investments allocated by the facility and to attract\npublic and private investments.
\nFurthermore, up to 15% of the funding that\ncannot be committed under Chapter II of Regulation (EC) 663/2009\nmay be used to provide technical assistance to local, regional or\nnational, authorities on the setting up of, and on the initial\ndeployment phase of technology related to, energy efficiency and\nrenewable energy projects.
\nFinancial\nintermediaries:\nthe proposal provides that the financial facility should be managed\nby one or several financial intermediaries. According to the\nreport, the financial intermediaries shall endeavour to allocate\nall the funding from the Union contribution available in the\nfacility to investment projects and to technical assistance for\nrenewable energy and energy efficiency projects by 31 March\n2014. No funding from the Union contribution shall be allocated\nafter that date.
\nAll funding from the Union contribution not\nallocated by the financial intermediaries by 31 March 2014 shall be\nreturned to the Union budget. The funding from the Union\ncontribution allocated to investment projects shall remain invested\nfor a specified length of time that may not extend beyond 31\nMarch 2034.
\nThe Union shall be entitled to returns on its\ninvestment in the facility throughout the lifetime of the facility,\nin proportion to its contribution to the facility and in accordance\nwith its shareholder rights.
\nThe selection of such financial intermediaries\nshould take place on the basis of their demonstrated ability to use\nthe funding in the most efficient and effective way, with the\nobjective of maximising the participation, within the shortest\npossible time, of other public and private investors.
\nFunding that cannot be committed\nunder Chapter II of Regulation (EC) 663/2009:funding which cannot be subject\nto individual legal commitments under Chapter II for an amount of\nEUR 146.344.644,50 shall be for the facility for the purpose of\ndeveloping suitable funding instruments in cooperation with\nfinancial institutions.
\nEligibility of\nexpenditure: due\nto the urgent need to address the economic crisis, the report\nstates that expenditure incurred under Chapter II of Regulation\n(EC) 663/2009 should be eligible as from 13 July 2009.\n Expenditure incurred under Chapter IIa should be eligible as\nfrom 1 January 2011.
\nSynergies:Members consider that when\ngranting financial or technical assistance, attention shall also be\npaid to synergies with other financial resources available in the\nMember States, such as the Structural and Cohesion Funds and the\nEuropean Local Energy Assistance (ELENA) Facility, in order to\navoid overlaps with other instruments. The facility shall make\navailable online all information on programme management\nthat is relevant for interested parties.
\nFactors to be taken into\naccount: as\nregards the selection of projects, particular attention shall be\npaid to the geographical balance.
\nAs regards the financing of investment\nprojects, the leverage factor for individual investment projects\nmay vary, depending on a number of factors such as the actual\nsize and type of a project and on local conditions including the\nsize and financial capabilities of the beneficiary.
\nConditions for public authorities' access to financing\nunder the facility: public\nauthorities requesting financing shall comply with the following\nconditions:
\nEvaluation and reporting: by 30 June 2013 the Commission shall submit a\nmid-term evaluation report on the measures taken under the\nFinancial Facility. The report shall be accompanied by a\nlegislative proposal for the continuation of the\nfacility.
\nThe European Parliament adopted by 582 votes to\n27, with 7 abstentions, a legislative resolution on the proposal\nfor a regulation of the European Parliament and of the Council\namending Regulation (EC) No 663/2009 establishing a programme to\naid economic recovery by granting Community financial assistance to\nprojects in the field of energy (EERP).
\nThe European Parliament adopted its position at\nfirst reading under the ordinary legislative procedure (formerly\nknown as the codecision procedure). The amendments adopted in\nplenary are the result of a compromise negotiated between the\nEuropean Parliament and the Council.
\nFinancial Facility: the resolution states that the\nfinancial facility shall be used for the development of energy\nsaving, energy efficiency and renewable energy projects and shall\nfacilitate the financing of investments in those areas by local,\nregional and, in duly justified cases, national public authorities.\nSuch investment projects contribute to green growth, the\ndevelopment of a competitive, connected, sustainable and green\neconomy, as well as to the protection of employment, job creation\nand tackling climate change, in accordance with the \"Europe 2020\" objectives. These shall include, in\nparticular, projects concerning:
\nThe facility shall be used for sustainable energy\nprojects, in particular in urban settings. This shall include, in\nparticular, projects concerning :
\nThe facility shall sustain investment projects\ndemonstrating an economic and financial viability, in order\nto refund the investments allocated by the facility and to attract\npublic and private investments.
\nFurthermore, up to 15% of the funding that\ncannot be committed under Chapter II of Regulation (EC) 663/2009\nmay be used to provide technical assistance to local, regional or\nnational, authorities on the setting up of, and on the initial\ndeployment phase of technology related to, energy efficiency and\nrenewable energy projects.
\nIt should be noted that the facility should not\nconstitute a precedent with regard to the use of the Union budget\nand possible future funding measures, including in the energy\nsector, but should be considered rather as an exceptional\nmeasure adopted during a period of economic\ndifficulty
\nFinancial intermediaries: the financial facility should be managed by one or\nseveral financial intermediaries. According to the amended text,\nthe financial intermediaries shall endeavour to allocate all the\nfunding from the Union contribution available in the facility to\ninvestment projects and to technical assistance for renewable\nenergy and energy efficiency projects by 31 March 2014. No\nfunding from the Union contribution shall be allocated after that\ndate.
\nAll funding from the Union contribution not\nallocated by the financial intermediaries by 31 March 2014 shall be\nreturned to the Union budget. The funding from the Union\ncontribution allocated to investment projects shall remain invested\nfor a specified length of time that may not extend beyond 31\nMarch 2034.
\nThe Union shall be entitled to returns on its\ninvestment in the facility throughout the lifetime of the facility,\nin proportion to its contribution to the facility and in accordance\nwith its shareholder rights.
\nThe selection of such financial intermediaries\nshould take place on the basis of their demonstrated ability to use\nthe funding in the most efficient and effective way, with the\nobjective of maximising the participation, within the shortest\npossible time, of other public and private investors.
\nFunding that cannot be committed\nunder Chapter II of Regulation (EC) 663/2009: funding which cannot be subject\nto individual legal commitments under Chapter II for an amount of\nEUR 146.344.644,50 shall be for the facility for the purpose of\ndeveloping suitable funding instruments in cooperation with\nfinancial institutions.
\nEligibility of\nexpenditure: due\nto the urgent need to address the economic crisis, the resolution\nstates that expenditure incurred under Chapter II of Regulation\n(EC) 663/2009 should be eligible as from 13 July 2009.\n Expenditure incurred under Chapter IIa should be eligible as\nfrom 1 January 2011.
\nSynergies: Parliament considers that when\ngranting financial or technical assistance, attention shall also be\npaid to synergies with other financial resources available in the\nMember States, such as the Structural and Cohesion Funds and the\nEuropean Local Energy Assistance (ELENA) Facility, in order to\navoid overlaps with other instruments. The facility shall make\navailable online all information on programme management\nthat is relevant for interested parties.
\nFactors to be taken into\naccount: as\nregards the selection of projects, particular attention shall be\npaid to the geographical balance.
\nAs regards the financing of investment\nprojects, the leverage factor for individual investment projects\nmay vary, depending on a number of factors such as the actual\nsize and type of a project and on local conditions including the\nsize and financial capabilities of the beneficiary.
\nConditions for public authorities'\naccess to financing under the facility: public authorities requesting financing shall\ncomply with the following conditions:
\nEvaluation and\nreporting: by 30\nJune 2013 the Commission shall submit a mid-term evaluation report\non the measures taken under the Financial Facility. The report\nshall be accompanied by a legislative proposal for the continuation\nof the facility.
\nPURPOSE: to create a\ndedicated financial instrument to support energy efficiency and\nrenewable initiatives within the Sustainable Energy Financing\nInitiative.
\nLEGISLATIVE ACT:\nRegulation (EU) No 1233/2010 of the European Parliament and of the\nCouncil amending Regulation (EC) No 663/2009 establishing a\nprogramme to aid economic recovery by granting Community financial\nassistance to projects in the field of energy.
\nCONTENT: following a\nfirst-reading agreement reached with the European Parliament, the\nCouncil adopted this Regulation allowing for the financing of\ninvestment projects in the area of energy efficiency and energy\nfrom renewable sources, by local, regional and national public\nauthorities, in particular in urban settings.
\nThe total amount allocated\nto this financial facility is EUR 146.3 million which comes\nfrom unspent funds from the European Energy Programme for Recovery\nas established by regulation 663/2009, in line with the Commission\ndeclaration annexed to the regulation.
\nRegulation 663/2009\nestablished a programme to aid economic recovery in Europe by\ngranting EUR 3.98 billion for 2009 and 2010 to projects in the\nfield of energy, in particular gas and electricity infrastructure,\noffshore wind electricity and carbon capture and storage\n(CCS).
\nThe\nfacility shall be used, in\nparticular, for projects concerning:
\n\n· \npublic\nand private buildings incorporating energy efficiency and/or\nrenewable energy solutions including those based on the usage of\nInformation and Communication Technologies (ICT);
\n\n· \ninvestments in high energy\nefficient combined heat and power (CHP), including\nmicro-cogeneration, and district heating/cooling networks, in\nparticular from renewable energy sources;
\n\n· \ndecentralised renewable\nenergy sources embedded in local settings and their integration in\nelectricity grids;
\n\n· \nmicro-generation from\nrenewable energy sources;
\n\n· \nclean\nurban transport to support increased energy efficiency and\nintegration of renewable energy sources, with an emphasis on public\ntransport, electric and hydrogen vehicles and reduced greenhouse\ngas emissions;
\n\n· \nlocal\ninfrastructure, including efficient lighting of outdoor public\ninfrastructure such as street lighting, electricity storage\nsolutions, smart metering, and smart grids, that make full usage of\nICT;
\n\n· \nenergy\nefficiency and renewable energy technologies with innovation and\neconomic potential using the best available procedures.
\nThe facility may be also\nused to provide incentives and technical assistance as well\nas to raise the awareness of local, regional and national\nauthorities so as to ensure optimal use of the Structural and\nCohesion Funds, in particular in the areas of energy efficiency and\nrenewable energy improvements in housing and other types of\nbuildings. The facility shall sustain investment projects\ndemonstrating an economic and financial viability, in order\nto refund the investments allocated by the facility and to attract\npublic and private investments.
\nThus, the facility may,\ninter alia, include provisioning and capital allocation for loans,\nguarantees, equity and other financial products. Furthermore, up to\n15% of the funding may be used to provide technical assistance to\nlocal, regional or national, authorities on the setting up of, and\non the initial deployment phase of technology related to, energy\nefficiency and renewable energy projects.
\nTo maximise the impact of\nthe Union funding in the short term, the facility should be\nmanaged by one or more financial intermediaries such as\ninternational financial institutions.
\nEvaluation\nreport: by 30 June 2013, the\nCommission shall submit to the European Parliament and the Council\na mid-term evaluation report on the measures taken under the\nfinancial facility. The report shall, if appropriate, be\naccompanied by a legislative proposal for the continuation of the\nfacility.'
\nENTRY INTO FORCE:\n30/12/2010.
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