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12:34 PM   [04 May 2019 | Saturday]

Central Agency Funds Public Lighting

In some regions, central agencies will provide grants and/or financing to buyers to fund public lighting(CLASSIC) programs. In the self-financing model, this financing is not directly lent to the project, so it does not take risks to the performance of the project, but provides it to the purchaser to enable the project to proceed. In recent years, we have seen that the growth of these central sources of funding is aimed at urban renewal and/or greenhouse gas reduction.

For example, Washington and Seattle in the United States have received funding from the US Recovery and Reinvestment Act initiative, or in the UK, green investment banks (government-backed organizations) have funds to invest in carbon reduction projects such as public lighting. In the self-financing mode, the risk can still be transferred significantly to the contractor if needed. For example, contractors can be used to ensure a certain level of energy savings or to provide a fixed price for the installation and/or maintenance of public lighting. Joint ventures between buyers and installation companies are also used as a means of sharing risks, such as in Copenhagen (Denmark) and Salford (UK). Therefore, self-financing does not preclude the use of commercial structures, such as energy performance contracts, to transfer risk to another entity. However, even under these structures, the purchaser still has some risks, that is, the funds it provides will not be repaid.

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