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Funding leveraged by ESIF in Italy (Emilia-Romagna)

Emilia-Romagna Energy Fund Energy Fund - Multyscope Regional Fund of public financing

The Multiscope Regional Fund of public financing was set up with the Regional Act. n.791/2016 and 1537/2016.

It is a Financial Instrument, according to the previous art. 37 of the EU Reg. n.1303/2013, set up with public resources on the ROP ERDF of ERR 2014 – 2020 and in particular:

  • Axis 3 - Competitiveness and attractiveness of the production system;

  • 3.5.1 Starter Fund

  • Axis 4 - Promotion of low carbon economy in the territories and the production system.

  • 4.2.1 Energy Fund

The Fund is a revolving fund of soft loan financing, privately funded for the purpose of providing loans at a reduced rate.

Financial capacity

The Fund consists of a total initial public budget of about € 47,000,000.00 on the ROP ERDF of ERR for 2014 -2020 programming period divided into two sub-funds:

  • Starter Fund of about € 11,000,000

  • Energy Fund of about € 36,000,000



Beneficiaries

SMEs and large companies registered in the Register of Companies operating ONLY in the sections of the economic activity (ISTAT ATECO 2007 - B, C, D, E, F, G, H, I, J, L, M, N, R, S) with local units in which the investment project is implemented are located in Emilia-Romagna Region active at the time of submission of the application provided they are not "Undertaking in difficulty" complying with the European Guidelines on State aid for rescuing and restructuring non-financial firms in difficulty (2014 / C 249/01)

The instrument

The Fund provides new unsecured-loans at reduced rates with mixed provision resulting partly from the public share (70%) and partly from the private share (30%) for each admissible project.

  • Every single funding covers 100% of the project

  • The amount of funding must be between a min. of € 25,000 and a max. of € 500,000

  • The duration of the amortization period is between a min. of 36 months and a max. of 96 months (including any pre-amortization period of up to 12 months).

The facilitation is determined by:

  • an interest rate equal to 0 on the part of the public share of the Fund

  • a rate on the private portion resulting from the spread on the EURIBOR 6


Eligible initiatives

  • Interventions addressed to improve energy efficiency and to reduce gas emissions causing climate change

  • Interventions to produce energy from renewable sources, favouring those in self-consumption, as well as high efficiency cogeneration plants, complying with the EU Directive 2012/27 (EU Parliament and Council)



Eligible costs

  1. Works on buildings: expansion and / or restructuring, works functional to the project

  2. Purchase and installation, machine adjustments, plants, equipment, hardware

  3. Acquisition of software and licenses

  4. Technical and targeted consultancy services for the investment project

  5. Costs for preparing an energy audit and / or project development design to carry out the intervention submitted in the application

Expenditures must be submitted later than the date of submission of the application, except for preparation costs of technical documents (listed in “e”), which may be dated later than 01/06/2014.



Non repayable grants

The company may, at the time of submitting the application, require a non-repayable grant to be charged on technical costs such as energy audit and / or project, which are necessary for the submission of the investment project.

    • This contribution, which covers up to a maximum of 100% of the aforementioned expenditure, taking into account the chosen aid scheme and the ceiling on the same amount of expenditure, will still be eligible for a maximum of 12.5% of the public funding admitted (up to 8.75% of the funding).

    • In the grant communication, the manager will indicate the amount of the actually disbursed non-repayable grant, specifying the modalities and the timing for the delivery of it.

    • The reimbursement of the expenses will be paid only after the final project finalization, after its verification. In the event of a difference between the intervention granted and the actual intervention, the deferred grant will be remodelled in order to respect the maximum permissible percentages.



Documents to submit for the application phase

  • Pre-Banking Resolution

  • Budget Estimates

  • State aid statement

  • Energy audit or project

  • If available, the last two full balance sheets



Grant benefit and aid regime

The public share of funding, allocated at zero rate and the non-repayable grant create a public benefit for the beneficiary which will be granted on the basis of the choice made by the requesting party and in accordance with the regulatory constraints under the provisions of the “de minimis” regime according to the EU Regulation 1407/2013.



Preparation of the energy intervention

At the request of the chosen financial aid, an Energy audit will have to be provided, stamped and signed by a qualified technician, and drawn up in accordance with UNI CEI EN 16247 - (parts 1 a 4).

    • Definition of ENERGY AUDIT: "A systematic procedure aimed at obtaining an adequate knowledge of the energy consumption profile of a building or group of buildings, one industrial or commercial activity or plant or of public or private services, to identify and quantify cost-effective energy saving opportunities and report the results “

    • Where the Energy audit procedure is not applicable, it will be necessary to attach to the request of the aid selected the project of the intervention, stamped and signed by qualified technician, which can be:

    • A Feasibility Study / Preliminary Project / Final Project / Executive Project which shall, however, consist of the following elements:

  1. Technical report

  2. Graphic documents

  3. Analysis of project cash flows, where relevant