The European Islands Facility – NESOI, open to a community of 2400 inhabited EU islands, aims to fund 60 successful energy transition projects, mobilizing more than €100m of investment and reducing significantly Co2 and GHG emissions by 2023.
The NESOI European Islands Facility’s goal is to unlock the potential of EU islands to become the locomotives of European Energy Transition by mobilising more than 100 M€ of investment in sustainable energy projects to an audience of 2.400 inhabited EU islands and give the opportunity to test innovative energy technologies and approaches in a cost-competitive way.
In short, the NESOI European Island Facility has three key objectives:
The NESOI Facility works in close contact with the Clean Energy for EU Islands Secretariat – created to facilitate the clean energy transition on EU islands from the bottom up; and bringing it one step forward by providing to islands training, technical support, cooperation opportunities and robust funding opportunities to concretely convert Island Sustainable Energy Action Plans into Renewable Energy Sources (RES) plants, building and energy infrastructure retrofitting, energy bills reduction, local job creation and more
To achieve this, NESOI is in the process of building a platform able not only to provide first-step funding for islands energy transitions plans, but also a one-stop-shop for islands where to find ideas and effective organisational, technical and financial instruments for the whole value chain of a project.
NESOI offers concrete support to the energy transition process, both at European level and in the implementation of interventions on (at least) 60 beneficiary islands.
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Islands face exorbitant electricity costs when importing fossil fuels and are also among the most vulnerable regions to rising sea levels, drought and flooding. Innovative teamwork is putting them on the fast track to 100% energy independence – the green way.
Based on the NESOI survey conducted last year, the NESOI partners produced a report outlining the critical technologies for energy transition on islands.