As one of a series of successful online exchanges organized by the GRITH collaboration, partners and stakeholders were treated to an enlightening presentation on Revolving Funds last June. Sharing expertise on how to finance the shift towards future-proof business parks and industrial sites is a crucial aspect of the project. Energiefonds Drenthe finances measures that support the energy transition and reduces CO2 emissions in the Dutch province.
Maarten Bunnink, Project Financer and Guido Hoek, Funds Manager, shared the origins of this subsidy platform and its relevance for entrepreneurs and business parks in the region. We first heard some facts and figures about Energiefonds Drenthe (EFD), what it does and what that delivers as a result.
Investments, analysis, solutions
“From a total funding pot of of 60 million euros, each euro financed by an EFD loan triggers four euros of investment, which are often pumped into the local or regional economy, “ Maarten remarks . “Current projects have resulted in an estimated 2,100 Terra Joules of fossil fuel reduction and about 190,800 tons less CO2 emissions.”
“Our core challenge is to make industrial estates and business parks in this region more sustainable, “ Guido confirms. “We have to tackle individual challenges before moving to collective ones. A GAP analysis helps identify discrepancies and create an action plan to bridge these, comparing the current situation to the desired situation and finding solutions.”
Our core challenge now is to make industrial estates and business parks in this region more sustainable
Entrepreneurs unite
The Province of Drenthe has made this funding available so EFD can offer the opportunity to provide risk financing, relieving entrepreneurs so that they can focus on their core business activities. There are no restrictive protocols and, with the right mindset and creativity, individual entrepreneurs can unite to increase their financing ability. Entrepreneurs can apply for subsidies to reduce their energy costs and, since June this year, energy cooperatives and other local energy initiatives can also use this loan for renewable energy projects, such as solar-on-roof.
GRITH supports business parks with the energy transition
Individual & collective investments
To illustrate, Maarten shared a recent practical example showing how individual entrepreneurs are now collaborating. Energiefonds Drenthe is providing an individual businessman with a loan that allows him to make green energy investments at his own location in a business park. Any remaining funds can be used as a capital contribution to the park’s energy cooperative. The cooperative has its own separate business case and capital, which increases its (and the park’s) financing ability and, as a result, the capacity to develop sustainable energy solutions and a future-proof business environment.
Understandably, this inspiring example of funding to support the energy transition on business parks was of great interest to the GRITH partners and led to a highly active Q&A session. Many thanks to Energiefonds Drenthe for this valuable knowledge exchange!