Energy Efficiency and Renewable Energy project preparation programme in urban areas of the Mediterranean Partner Countries

Drawing from the conclusions of an earlier EIB study (Financing of Urban Energy Efficiency and Small-scale Renewable Energy Investments in the Southern and Eastern Mediterranean Region), this "Med-ELENA" study, funded by the FEMIP Trust Fund, was commissioned in order to assess in more detail how the Bank could support the needs of nascent energy efficiency and small scale renewable energy investments in the region.

The study involved an initial prescreening of a pipeline of projects and the selection and detailed analysis of three pilots, in order to gain a more in depth understanding of what is needed for energy efficiency and small-scale renewable energy projects to overcome the barriers they currently face in the region. The investigation found that these projects require not only adapted financing but also advisory services to support all stages of project identification, preparation and implementation.

The report therefore concludes with an outline proposal for a new financing facility, which the EIB could develop in order to combine its long-term financial support with value-added advisory services, in part based on the Bank's previous successful experience with the European Local Energy Assistance (ELENA) programme.