The FIREMED project will provide Innovative financial instruments to support energy sector SMEs in the Mediterranean area, during a 26 month initiative co-financed by the European Regional Development Fund, within the framework of the Programme MED.

Presentation Firemed

Energy sector SMEs in MED area are considered a strategic development asset for the area due to abundance of renewable energy resources available and the increasing demand of energy coming from the industrial sectors and urban developments. The link between energy sector SMEs and sustainable development is clear to all actors working for the economic development of MED countries.

The objective of the project is to approach both Local and Regional Authorities, and Financial Operators in charge to support energy sector SMEs development, proposing innovative financial instruments for in Local Development plans, innovative services and improving matching between SMEs in search of financial means and Investors. The project will consider the financial situation of many countries and the need to balance the public support of Energy sector through strengthening cooperation between private and public institutions.

The FIREMED project will approach the authorities in charge of elaborating  Local Development Plans and those providing assistance to energy sector SMEs. For the former, the Project will elaborate innovative model of funding instruments to be introduced in their Local Development Plans based on the new Financial Instruments that being drawn up at EU Level for the Programme Period 2014-2020. For the latter, the FIREMED Project will stimulate both a high level of attention, thanks to dedicated services and instruments, and an increased attitude to invest in renewable energies and energy efficiency, thanks to a more detailed knowledge of the energy sectors capacities and potentialities. The Financial schemes developed by the Project and transferred through feasibility studies into development plans and the services implemented dedicated both to financial operators and energy sectors SMEs will constitute an overall model elaborated by the FIREMED partnership to support the development of entrepreneurship in MED Area. The project covers the territories of 11 MED Regions (Veneto, Lombardy, Provence-Alpes-Côte d'Azur, Rhone Alpes, Andalucía, Catalonia, Valencia Peloponnese, South Aegean, Cyprus, Istria) from 7 countries (6 EU & 1 IPA): Italy, France, Spain, Greece, Cyprus, Slovenia and  Croatia.