Ministry of Industry, Energy and Mining – National Directorate of Energy
The Energy Efficiency Trust was created to allow implementation of energy efficiency (EE) projects and it was composed by two components. a) Grants for cost sharing feasibility studies, and b) Loans for projects of energy investment. Since the bank failed in achieving funds to be competitive in a private financial system turning more liquid, the fund was restructured in 2015 and it became into a guarantee fund in the National System of Uruguay’s Guarantee (SIGA). However, the bank sector was reluctant in using such fund. For this reason, through the assistance service of the Clean Energy Solutions Center “Ask an Expert”, Econoler was assigned to define a roadmap to restructure the fund and increase the EE investments.
The assignment of Econoler consisted in defining a roadmap to restructure the fund and boost the investments in EE. For this purpose, Econoler:
- Analyzed how the fund operated in the beginning: All previous stages and changes that were made within the structure of the fund, from its creation up to present were analyzed, based on documentations that were made available.
- Identified the reasons for the low performance of the fund: In accordance with the collected information and based on the experience of Econoler’s experts, it was succeeded in identifying the reasons why the fund could not reach a satisfactory performance.
- Pointed out the improvements to be implemented in the fund to enhance performance: After the analysis of the previous stages, the different recommendations to be introduced for the restructuring of the fund were made with a view to increase the EE investments, apart from the next steps to continue the implementation of such improvements.
In conclusion, the client obtained a concept of the program/restructured fund with each suggestions for the implementation of this concept.