The deep renovation of multifamily buildings is a slow-moving industry. This is caused by a week business case, ineffective regulations for decision-making in multi-owner residential buildings and a generalised lack of interest and trust from homeowners. A weak business case is linked to project capital costs (including high transaction costs) and lack of long-term financial instruments.

The RenewALL concept includes the following elements:

• Long term energy performance contracting to delivery deep renovation,
• Financial engineering to further support sector development and for upscaling long-term financial instruments,
• Moving from one-building one-project approach to neighbouring approach to reduce costs through larger scale investments in the same area,
• Increasing the interest of homeowners in deep renovation associated with urban renewal of the neighbourhood.

The project aims to refurbish multi-family buildings in Riga. 

Start date: September 2023 - End date: September 2026

Partners

• RIGAS TEHNISKA UNIVERSITATE
• SIA RIGAS NAMU PARVALDNIEKS
• RENESCO SIA
• RIGA MUNICIPAL AGENCY "RIGA ENERGY AGENCY"