The Action helps foster Lebanese economic growth by promoting the expansion of the sustainable energy market. The Action was designed from the identification of two main critical issues in the market:
(I) on the demand side: the existence of significant but dormant demand for renewable energy and energy efficiency technologies by Lebanese SMEs, due to the lack of their own financial resources to invest and poor access to available financing;
II) on the supply side: the high difficulty in taking full advantage of alternative financing models such as the ESCO model, due to lack of knowledge on the subject.
Therefore, the Action will work to strengthen both the demand and supply side to encourage increased adoption and improved quality of services/solutions provided in the local market. The Action focuses on strengthening the activity of ESCOs, as they have the potential to act as “game changers” in the national transition.
The Projects Partners
The results will lead to Lebanese SMEs obtaining more investment in renewable energy through the creation of a more favorable environment for ESCOs to operate and grow. Through the chain of activities and results, ESCOs will unleash their market growth potential and investment capabilities as they work in a better defined business environment, have greater access to concrete financial support, and rely on a strengthened policy support framework. In turn, the outcome of the action will contribute to the promotion of innovation, entrepreneurship, and job creation in support of Lebanon’s clean energy transition, as higher levels of investment in renewable energy will positively influence overall national economic growth, leading to more and more profitable entrepreneurship by SMEs and ESCOs, which in turn will invest more in the adoption of innovations and new jobs.
ESCO pre-qualification requirements in relation to staff certificates
For an ESCO to be approved by ICU (Istituto per la Cooperazione Universitaria) in Lebanon, one or more of its full-time staff should hold the following certifications among them:
- – Certified Energy Manager (CEM) or a Certified Energy Auditor (CEA) and
- – Certified Measurement and Verification Professional (CMVP) and
- Performance Contracting and Funding Professional (PCF) An ESCO will have its approval withdrawn or suspended if it doesn’t maintain the above pre-qualification requirements