PRODESA aims to assist seven major municipalities in Athens Metropolitan Area to launch showcase energy efficiency and renewable energy projects, utilizing innovative financial tools and attracting private investments.
To achieve its objectives, the project focuses on optimal bundling of the fragmented municipal projects to achieve considerable size, reasonable payback time and risk diversification. In addition, during the project the pooling of resources will be used to optimize financial results for all parties and to ensure high participation of ESCOs in the tenders.
PRODESA is the first of its kind effort in Greece and among other things, aims to create a network of at least 30 municipalities that will be supported in order to replicate the results.
The project launched in May of 2017, has a duration of 51 months and is financed by HORIZON 2020 (under Grant Agreement No: 754171). The total cost of the interventions which will be implemented, is €20.24 million.