A consortium of leading European organisations has joined forces for the ambitious LEG-UP project, which has recently been selected as a LIFE Programme by CINEA.
The project is currently in the negotiation phase with the European Commission to finalise the contract. LEG-UP (Linking Energy-efficient Green Upgrades with Private Investments) promises to bring about a true revolution for low-income first-time buyers.
It offers a groundbreaking approach to deeply renovating energy-intensive homes and accelerating the transition to a climate-neutral Europe in line with the EU Taxonomy and the 2050 target. At the same time, it helps alleviate energy poverty through accessible and affordable green financing solutions.
A revolution in affordable housing and sustainable renovation
LEG-UP addresses a critical market gap: low-income first-time buyers who are excluded from traditional financing and forced to purchase outdated, energy-intensive homes without the necessary means to renovate them. This perpetuates energy poverty, leaving families burdened with high energy bills and poor living conditions. LEG-UP tackles this challenge by offering an integrated financing solution that supports both the purchase and energy-efficient renovation of homes.
The project combines financing with energy renovations, with buyers receiving support through One-Stop Shops (OSS). These OSS models play a crucial role in providing guidance and advice on energy-efficient renovations, ensuring buyers make informed decisions and maximise the impact of their upgrades.
This approach reduces risk for both lenders and homeowners, making private financing more accessible for low-income families.
Pilot projects will be launched in Flanders and Spain to refine the financing model. After evaluation, the approach will be prepared for broader implementation across Europe. Thanks to strong collaboration with One-Stop Shops in Belgium and Spain, rapid scaling is possible, with the ambition to roll out this model throughout Europe.
LEG-UP aims to mobilise over €2 billion in private investments over six years, with opportunities for securitisation within an ESG framework. This will attract private investors and contribute to sustainable and energy-efficient housing solutions. Moreover, the project fully aligns with the EU Taxonomy and actively supports the goal of making European housing climate-neutral by 2050.
Who are the consortium partners?
LEG-UP is supported by a strong coalition of European partners:
- Onesto (Belgium): The coordinating organisation of the project, Onesto has a long-standing history in social mortgage provision and specialises in making home ownership accessible for low-income first-time buyers. Onesto's experience in financial inclusion and sustainable lending plays a crucial role in the project's success.
- Union de Créditos Inmobiliarios (UCI, Spain): A Spanish mortgage lender with extensive expertise in green financing. UCI is at the forefront of developing and implementing energy-efficient mortgage and loan solutions, leveraging its knowledge to expand sustainable housing options across Europe.
- Enersave Capital SARL (ESC, Luxembourg): A Luxembourg-based investment firm dedicated to energy efficiency and impact-driven financial models. Enersave provides critical expertise in mobilising private capital for energy-efficient renovation projects and structuring green finance instruments.
- ICCS - Universitat Nacional Tècnica d'Atenes (NTUA, Grècia): A leading research institution that contributes state-of-the-art decision support methodologies in energy efficiency, sustainability, and financial modelling. NTUA plays a key role in integrating technical innovations into LEG-UP's financial and operational strategies.
- FundaciĂł Europace (Espanya): A Spanish organisation pioneering innovative financing models for energy renovations. FundaciĂł Europace has a strong track record in implementing One-Stop Shop (OSS) renovation support structures that facilitate home energy retrofits for low-income homeowners.
Call for collaboration
The impact of LEG-UP extends beyond the direct project partners. Only through a deeply rooted partnership with all stakeholders, such as governments, financial institutions, energy experts, social organisations, can we achieve affordable and energy-efficient housing for all Europeans. By cooperating, we can drive systemic change, paving the way towards a sustainable and socially fair housing policy in line with European climate objectives.
For more information
đź“© Onesto - Joris Piette - joris.piette@onesto.vlaanderen
📩 UCI – Pilar Campuzano - pilar.campuzano@uci.com
📩 Enersave Capital – Alexandra Hedesiu - ah@enersavecap.com
📩 NTUA – Katerina Papapostolou - kpapap@epu.ntua.gr
đź“© FundaciĂł Europace - Maria Font - m.font@fundacioeuropace.com