1. Add your logo here 1 EUSEW Developing and financing local and regional sustainable energy investments Juan Alario Associate Director European Investment Bank Local and regional renewable energy investment 2020 and beyond: the need for a level playing field Committee of the Regions 27 June 2013

2. Add your logo here 2 Large investment potential in low carbon technologies at local and regional level From EU Commission, about 50bn EUR/year for RE and 85 bn EUR/year for EE A substantial part of the EE and small scale RE investment potential needs to be developed RE investments declining EE investments low today, but the new EE directive should boost them

3. Add your logo here 3 EE and RE contribute to key objectives Key sectors to achieve the EU energy and climate objectives Contribution to economic growth and particularly to employment generation

4. Add your logo here 4 Regional and local authorities can play a substantial role to promote EE and small RE Lowering the barriers to these investments, in particular providing information, TA or regulatory measures (split incentives, etc.) Contributing to developing local capacity to deliver these investments, particularly by SMEs Facilitate financing, including grants, when required Developing large investment programmes, mainly in the public sector

5. Add your logo here 5 Developing large local/regional EE&RE investment programmes requires: Creation of a project implementation unit Improve projects bankability: – Reduce risks – Bundle small projects – Standardisation – Improve profitability: lower transaction costs and use grants only when required Facilitate the financing of these schemes

6. Add your logo here 6 The EIB is supporting local and regional initiatives Global and framework loans for small projects through Financial Intermediaries For large projects direct loans from the EIB

7. Add your logo here 7 EIB develops joint initiatives with the Commission Elena: TA to support local regional authorities for project preparation EEEF: Investment fund to support Elena type projects Jessica: urban development funds using Structural funds New initiative: Deep Green platform: different financial instruments to support EE and small RE

8. Add your logo here 8 Example: Framework loan for small EE&RE

9. Add your logo here 9 Example: JESSICA / ELENA - London London Energy Efficiency Fund (100M GBP) – Waste Urban Development Fund (UDF) – Energy Efficiency UDF (mainly RE:FIT) ELENA supports RE:FIT – ELENA supports 2.9 M EUR – Develop contractual framework for ESCOs public buildings – Target investment: 115 M EUR

10. Add your logo here 10 Conclusions Local and regional authorities can play a substantial role to develop the large EE&RE investment potential However, they need to develop new approaches in order to mobilise the substantial investments required EIB can contribute with its finance and expertise