With the EIB and ELENA, the RenoWatt project, energy for jobs, opens to all Wallonia

To achieve European and economic objectives, local authorities have a key role to play in improving energy efficiency (urban renewal, mobility, biomass energy, etc.). The RenoWatt project is focused in that direction and opens to all Wallonia with the support of the European Union’s ELENA Programme and the European Investment Bank.

The European Union’s Climate and Energy Objectives

By 2030, the European Union (EU) is committed to achieving:

  • a 40% reduction in greenhouse gas emissions compared to 1990: -43% compared to 2005 (Emissions Trading System – ETS) and -35% compared to 2005 (non-ETS such as transport, construction, etc.);
  • a renewable energy share of at least 32% in the energy mix (binding target);
  • a 32.5% increase in energy efficiency (primary energy consumption compared to 2007).

In view of these upcoming EU requirements, it is vital to set up structures to promote the energy-efficient renovation of buildings. Public and private buildings alone account for more than 40% of final energy consumption: the thermal refurbishment of buildings will create jobs and help limit the use of petroleum products.

Economic impact

The potential impact of this project goes beyond the EU’s obligations; investment in energy renovation sectors means investment in activities that generate value and wealth in terms of Wallonia’s GDP. The energy savings and the mobilisation of the construction sector will lead to the acquisition of expertise, within the Region and in financial tools. The deployment of appropriate training initiatives aimed at local recruitment by companies that can enter into energy performance contracts (EPCs), the introduction of new techniques for financing the transition, the development of new energy services operators in the private sector and the professionalisation of the “Walloon energy transition” are all benefits that this project can bring. More specifically, the development of an “industrial/economic” sector would result in an investment potential of more than EUR 30 billion and the creation of more than 17 000 jobs over the next 30 years. Continue reading “With the EIB and ELENA, the RenoWatt project, energy for jobs, opens to all Wallonia”