“Financial instruments for the implementation of energy efficiency measures energy savings” Financial instruments such as funds, subsidies, tax credits, loans, third party financing, energy performance contracts, guaranteed energy savings contracts and other similar contracts, which are marketed by public or private entities to partially or fully cover the initial cost of implementation of measures to improve energy efficiency.

LAW 3855/2010
Helesco aspires to support our country’s national effort to meet its energy and environmental targets, through the implementation of its projects
Process of Financing

For the financing of the potential project the "Third Party Financing" (TPF) mechanism is used, which can take on many forms.

The most common form is financing by a third party (i.e. a financial institution). More specifically, the energy consumer borrows money from a financial institution. In this case, HELESCO guarantees the energy performance of the project.

The guarantee of performance by HELESCO is fundamental to this mechanism in order to demonstrate that the project for which the loan is being sought is economically viabl (i.e. that the revenues from the energy savings will cover the payback requirements of the loan). In this way, with the guarantee of the energy savings, the risk for the Third Party financer is reduced thereby allowing the consumer to obtain better loan terms. It goes without saying that the "cost of borrowing" is of course linked to the size and the creditworthiness of the customer.

The form of self-financing by the ESCO, is only possible in the cases where the ESCO is either an energy company or a supplier of energy equipment. In all other cases, an ESCO cannot engage own funds because it would then not be able to implement more projects, a factor which is a key priority for the ESCO.

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A new vocabulary
Third-Party Financing

A contractual agreement under which a third party – in addition to the service provider, the energy supplier and the beneficiary of the energy efficiency measure – provides the capital needed for that measure and charges the beneficiary with a fee equivalent to part of the energy savings achieved through the energy efficiency improvement measure. The third party in question may or may not be an ESCO.

Energy. As much as needed. Wherever needed.