LIFE Programmes Kick-Off: GearUP and CROSSFIT Projects Begin
We are thrilled to announce the successful kick-off of two ambitious projects under the European Union’s LIFE Programme, aimed at advancing energy efficiency across Europe. These projects, GearUP and CROSSFIT, mark a significant step towards creating scalable, innovative solutions for energy savings and sustainable development.
GearUP: Generating Efficiency As a Resource
Kicked off in Dublin, Ireland,15/10/2024 the GearUP project brings together a consortium of leading partners, including Jones Lang Lasalle, Pinergy, Joule Assets Europe, the Green Finance Institute, TNO, New Energy Group, and Aristotle University of Thessaloniki.
GearUP aims to develop a revolutionary market framework for energy efficiency (EE), enabling the measurement, trading, and financing of energy savings on a large scale, similar to renewable energy markets like solar and wind. The project will address key barriers such as split incentives, the lack of retrofitting, and limited access to capital, with pilot programmes in Ireland and Spain. GearUP's goal is to scale this innovative approach across Europe, creating a standardised market for energy efficiency and positioning it as a key resource for the EU’s energy transition.
CROSSFIT: Continental Replicable One Stop Shop for Financial Innovation Trajectories
Launched in Brussels, Belgium, 17/10/2024 the CROSSFIT project aims to build capacity and enhance the way energy efficiency projects are managed within the public sector by empowering municipalities with the VEB one-stop shop (OSS) framework. The OSS simplifies procurement processes and encourages private financial investment, streamlining decision-making and tendering for public projects.
Inspired by a successful VEB OSS model in Flanders region, Belgium, CROSSFIT will be implemented in Greece, Portugal, and Spain, with a consortium of partners including Joule Assets Europe, Enersave Capital, Vlaams Energiebedrijf (VEB), RDA - Climate Solutions Unipessoal LDA, the Sustainable Cities Network Greece, and Energies Renovables Publiques de Catalunya. The project will blend public and private capital to create a sustainable funding model for energy efficiency projects, with the aim of scaling this approach across the EU.
Both projects are expected to drive significant advancements in energy efficiency, scale the OSS framework and demonstrate Europe's commitment to innovative, sustainable energy solutions. Stay tuned for further updates as these initiatives progress.