Friday 09 October 2015
Manutencoop Receives the Financial Energy Efficiency Award
The redevelopment project Policlinico S. Orsola - Malpighi hospital in Bologna has been awared as the first example in Italy of a "project bond". The Energy Efficiency Awards are awared every year by CESEF (Centro Studi sull'Economia e il Management dell'Efficienza Energetica - Research Center for Energy Efficiency Management and Finance).
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Manutencoop Facility Management was awarded the Energy Efficiency award in the category “financials” for the project aimed at redeveloping an energy production system at the Policlinico S. Orsola – Malpighi Hospital in Bologna.
CESEF (Centro Studi sull'Economia e il Management dell'Efficienza Energetica - Research Center for Energy Efficiency Management and Finance) assigns the "Energy Efficiency Awards" to three particularly important Energy Efficiency interventions in Italy, one for each of the categories "Project", "Strategic" and "Financial". This is the first annual edition of the awards.
The award is given to Manutencoop acting as leader of a TJA (Temporary Joint Association) - members include Siram S.p.A. and Sinloc - that executed the project, "for having successfully started a structured financial transaction by issuing a Project Bond," as the explanation for the award reads.
The redevelopment operation under way at the Sant'Orsola hospital is, in fact, being carried out with project financing for a total value of Euro 41 million out of which Euro 32 million is financed with a project bond issued by Progetto ISOM S.p.A., the project company formed by the partners of the temporary company TJA: Manutencoop, Siram and Sinloc.
The Project Bond was fully subscribed by the European Energy Efficiency Fund (EEEF), an innovative public-private partnership created to fund only energy efficiency operations, and it is the first example of a "project bond" in Italy.
The funded project involves the construction of a new tri-generation plant and a new heating and cooling distribution network that will offer 4,863 toe per year of primary energy saved with a 27% reduction of the hospital's current consumption.
The awards were assigned by secret vote of a panel made up of CESEF partners and several committee members of the "Management delle Utilities e delle Infrastrutture" journal.
The awards presented in Milan during the 2015 CESEF Workshop aim to promote the country's best practices in the sector, with the hope of bringing the best projects and the best strategies into the system and of boosting development of the Energy Efficiency market.
