PROJECT DESCRIPTION
BACKGROUND
This project aims to launch significant energy efficiency and renewable investment programs through the delivery of scalable financing solutions for sustainable energy investment projects with a particular emphasis on private sector funds. The objective is to accelerate the clean energy transition at scale, in line with the REPowerEU plan to phase out EU dependence on fossil fuel imports by phasing out the gas consumption of Boortmalt's European sites (1 TWh/year), and meeting net-zero across scopes 1 and 2 by 2031. More specifically, the implementation of this project aims to: - Develop an innovative financial structure enabling the financial viability of large-scale renewable energy-related investments and accelerate energy transformations at scale. - Developing a new organizational structure to overcome market, organizational and regulatory barriers. - Promote public/private partnerships between industries and public grid operators leading to innovative energy storage and grid balancing solutions. - Finance the investments through a blend of equity, debt, loans, EPC/ESCO, subsidies, green bonds etc. - Generate efficiencies in the investment programme by setting up a dedicated energy project development unit, bundle investments to improve their bankability, pool several assets into a large-scale investments and engaging stakeholders to mobilise investments. The key driver of this project is to develop a solution overcoming the barriers to deploying large scale energy transformation actions (technology, cost, financing, market, risk, organizational, regulatory etc.). As the topic aims to develop replicable solutions that are mobilizing private and public capital to implement sustainable energy investments, the Mastering Net Zero project is clearly addressing the scope and target sector of LIFE-2022-CET-PDA: Project development assistance for sustainable energy investments topic scope A.This project aims to launch significant energy efficiency and renewable investment programs through the delivery of scalable financing solutions for sustainable energy investment projects with a particular emphasis on private sector funds. The objective is to accelerate the clean energy transition at scale, in line with the REPowerEU plan to phase out EU dependence on fossil fuel imports by phasing out the gas consumption of Boortmalt's European sites (1 TWh/year), and meeting net-zero across scopes 1 and 2 by 2031. More specifically, the implementation of this project aims to: - Develop an innovative financial structure enabling the financial viability of large-scale renewable energy-related investments and accelerate energy transformations at scale. - Developing a new organizational structure to overcome market, organizational and regulatory barriers. - Promote public/private partnerships between industries and public grid operators leading to innovative energy storage and grid balancing solutions. - Finance the investments through a blend of equity, debt, loans, EPC/ESCO, subsidies, green bonds etc. - Generate efficiencies in the investment programme by setting up a dedicated energy project development unit, bundle investments to improve their bankability, pool several assets into a large-scale investments and engaging stakeholders to mobilise investments. The key driver of this project is to develop a solution overcoming the barriers to deploying large scale energy transformation actions (technology, cost, financing, market, risk, organizational, regulatory etc.). As the topic aims to develop replicable solutions that are mobilizing private and public capital to implement sustainable energy investments, the Mastering Net Zero project is clearly addressing the scope and target sector of LIFE-2022-CET-PDA: Project development assistance for sustainable energy investments topic scope A.