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    Energy Sector Innovation-Financial Network (EIFN)

    Project programme
    Sixth Framework Programme (FP6)
    Period
    08.11.2005 - 08.05.2008
    Project status
    Completed
    Project table
    Open in new window
    Project website
    http://www.eifn.ipacv.ro/
    Database link
    http://cordis.europa.eu/project/rcn/78599_en.html

    Project Energy Sector Innovation – Financial Network (EIFN) was funded under 6th Framework Programme. This was one of the networks, funded under INNOVA initiative. Project was performed by Spanish, German, Romanian, Lithuanian, Slovenian, Polish and Italian partners. Innovative projects are performed in specific cycle, which differs from usual project cycles, and the most sensitive item is search for funding, as such projects are more expensive with not quite clear payback. Financing sources are among other no less important issues, as such projects can’t count on commercial loans due to a big number of uncertainties and complicated analysis of such type of projects. Such projects are mainly funded using subsidies and research programmes, EU programmes and bank loans are in the third place. The project performed overview of the funding opportunities for innovative energy technologies, looked for new financing solutions (financing tools, procedures, methodologies and means), mapping of EU innovation funding needs and funding sources; establishing methodologies and tools for financial analysis of business plans for such projects; and creating financial model for innovations of energy sector via operative planning.

    LEI activities in the Project

    The purpose LEI in the project is to promote the collaboration between agents that develop innovation activities in the energy sector and financial investors in Lithuania. The participants of the project provide world class methodologies and tools to the agents to manage efficiency their financial services process.

    Total cost: 984 568 EUR

    Coordinator: DELOITTE SL, Spain

    Participants:

    • CONSORZIO CATANIA RICERCHE, Italy
    • ENTE VASCO DE LA ENERGIA, Spain
    • INSTITUT FUER SOLARE ENERGIEVERSORGUNGSTECHNIK E.V., VEREIN AN DER UNIVERSITAT KASSEL E. V., Germany
    • INSTITUTO DE EMPRESA, Spain
    • INSTITUTO TECNOLOGICO DE CANARIAS S.A., Spain
    • INSTYTUT ENERGETYKI, Poland
    • INSTYTUT PODSTAWOWYCH PROBLEMOW TECHNIKI POLSKIEJ AKADEMII NAUK (INSTITUTE OF FUNDAMENTAL TECHNOLOGICAL RESEARCH POLISH ACADEMY OF SCIENCES), Poland
    • IPA AUTOMATION ENGINEERING, Romania
    • KORONA D.D., Slovenia
    • LIETUVOS ENERGETIKOS INSTITUTAS (LITHUANIAN ENERGY INSTITUTE), Lithuania
    • ZUKUNFTSAGENTUR BRANDENBURG, Germany

    Project Team

    Name, surname Office phone. e-mail

    LEI Representative         		 
    Vaclovas Kveselis 114-AK +37037401931 Vaclovas.Kveselis@lei.lt

    Project Team         		 
    Rolandas Urbonas 406-AK +37037401832 Rolandas.Urbonas@lei.lt
    Eugenija Farida Dzenajavičienė 207-LK +37037401935 Farida.Dzenajaviciene@lei.lt
    Darius Strazdas
    Vaida Matuzienė
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    Ref no. Project name Energy Sector Innovation-Financial Network (EIFN)
    Name of legal entity Country Overall contract value (EUR) Proportion carried out by legal entity (%) No of staff provided Name of client Origin of funding Dates (start/end) Name of consortium members, if any
    Lithuanian Energy Institute (LEI) Lithuania 984 568 EUR 5 European Commission European Commission 08.11.2005 / 08.05.2008

    DELOITTE SL, Spain.
    CONSORZIO CATANIA RICERCHE, Italy.
    ENTE VASCO DE LA ENERGIA, Spain.
    INSTITUT FUER SOLARE ENERGIEVERSORGUNGSTECHNIK E.V., VEREIN AN DER UNIVERSITAT KASSEL E. V., Germany.
    INSTITUTO DE EMPRESA, Spain.
    INSTITUTO TECNOLOGICO DE CANARIAS S.A., Spain.
    INSTYTUT ENERGETYKI, Poland.
    INSTYTUT PODSTAWOWYCH PROBLEMOW TECHNIKI POLSKIEJ AKADEMII NAUK (INSTITUTE OF FUNDAMENTAL TECHNOLOGICAL RESEARCH POLISH ACADEMY OF SCIENCES), Poland.
    IPA AUTOMATION ENGINEERING, Romania.
    KORONA D.D., Slovenia.
    LIETUVOS ENERGETIKOS INSTITUTAS (LITHUANIAN ENERGY INSTITUTE), Lithuania.
    ZUKUNFTSAGENTUR BRANDENBURG, Germany.
    Detailed description of the project Type and scope of services provided

    According to the EU innovation and energy policies a comprehensive network for a better understanding between energy enterprises and institutions and financial agents will be designed and developed based on the following criteria:

    • Collaboration to update the financial services to the energy sector innovation needs.
    • Provide practical and efficient solution to facilitate innovation agents in the energy sector the access to financial services.

    The main objectives of this project are:

    • Improving the access of entrepreneurs (energy technologies) to financial services.
    • Promoting the collaboration between innovation agents and the financial service providers.

    The project scope includes:

    • Establishment of a stable collaboration EU innovation financing network for energy projects. The members of this Group would be enterprises, scientific institutions, universities, energy agencies, private and public financial institutions.
    • Identification and analysis sector characteristics in relation to innovation financing and establish European map linking needs of sectors and funding sources.
    • Develop methodologies, tools, guidance materials and procedures to improve the access of energy research players to innovation financing.
    • Workshops and roundtables organisation to identify relevant issues and receive feedback from the market agents.
    • IT infrastructure development to support the designed methodologies, tools and procedures.
    • Co-ordination with other relevant EU initiatives: Gate2Growth and PAXIS.
    • Elaborate policy and operative recommendations to the EU innovation policy.

    The purpose LEI in the project is to promote the collaboration between agents that develop innovation activities in the energy sector and financial investors in Lithuania. The participants of the project provide world class methodologies and tools to the agents to manage efficiency their financial services process.