On February 28, BASE will announce five winning projects that will receive free support to offer their systems via the pay-for-service model.
Following its recent global call for project proposals for its cooling-as-a-service (CaaS) incubator program, Switzerland-based Basel Agency for Sustainable Energy (BASE) received 35 applications from 18 countries, doubling expectations. Five winning projects will be announced on February 28.
The proposals are for highly efficient air-conditioning or refrigeration solutions using low-GWP or natural refrigerants. The five winners will receive free support from BASE to integrate CaaS into the business models for their systems. This will include assistance on technical, legal and financial aspects, including contractual arrangements, pricing strategy, financial structuring, risk mitigation mechanisms, among others. At the end of the incubator program, the aim is to have providers fully equipped to launch their first demonstration project.
BASE is the leader of the Cooling as a Service Initiative along with the Kigali Cooling Efficiency Program (K-CEP). The initiative aims to decrease energy consumption and greenhouse gas emissions (GHG) from cooling by promoting a pay-per-service model – as opposed to conventional up-front payment – to finance efficient cooling systems. The CaaS model is endorsed by the Global Innovation Lab for Climate Finance.
“We are delighted to see so much interest from technology providers to implement the CaaS model,” said Thomas Motmans, Sustainable Energy Finance Specialist at BASE. “We have received a great number of high-quality applications and it will be challenging to select only five for the Incubator!”
Breakdown of applications
The 35 applications spanned seven regions and 18 countries. In Africa, applications were received from South Africa, Rwanda, Nigeria, and Kenya. In Asia, from India; and in Europe, from Georgia. In Latin America, applications came from: Costa Rica, Brazil, Argentina, Colombia, Guatemala, Jamaica, Trinidad and Tobago, Panama, and Grenada. Applications also came from Australia, Canada and the U.S.
With regards to technology, applications were received for air conditioning (chiller), air conditioning (VRV/VRF), air conditioning (other), off-grid refrigeration and on-grid refrigeration projects.
Divided by industry, applications ranged from agriculture to hospitals, airports, cold chains, and schools/universities. The vast majority were for commercial or industrial projects.
For more information on CaaS, visit the CaaS Initiative website.