From an EU funded project…
REScoop MECISE is the result of a Horizon 2020 PDA project (2015- 2019) with the same name that aimed to mobilise citizens and municipalities in the transition to a more sustainable and decentralised energy system. A consortium of established energy cooperatives developed projects for renewable energy and energy efficiency. At the end of the project we set-up a financial facilitation service for energy communities and foster collaborations between energy cooperatives and local municipalities: REScoop MECISE.
to a European Cooperative Society!
REScoop.eu, the European federation of citizen energy cooperatives announced the foundation of REScoop MECISE, the European Mutual for Energy Communities Investing in a Sustainable Europe at their international conference in Brussels on 22/01/2019. However the COVID pandemic and the energy price crisis delayed the practical start of the Mutual.
Renewable energy projects are capital intensive investments, especially at the beginning. At the same time, citizens often only come on board once a project is up and running and they can see it with their own eyes. If you want to involve citizens in renewable energy projects, cooperatives need to be able to put in the upfront investment. REScoop MECISE will provide the bridge funding needed for cooperatives to achieve this goal.
REScoop MECISE will facilitate renewable energy cooperatives in financing their projects with less risk for individual cooperatives. By pooling funds from cooperatives, local authorities and even private investors from across Europe, the mutual can provide temporary equity to help energy communities finance their projects, thus giving them time to raise equity locally. Moreover, the Mutual can act as a mediator to buy commercial projects from traditional investors and open them for local communities and citizens to invest. Once the project is up and running, aggregated funds from local citizens will replace the Mutual. REScoop MECISE will retain its revolving character and ensure the project directly benefits the local communities.
