ManagEnergy Expert Mission #20: Unlocking Private Investment for Kozani’s Climate Transition

As part of the 20th ManagEnergy Expert Mission, Josip Čengija of the North-West Croatia Regional Energy Agency (REGEA) travelled to Kozani, Greece, from 17 to 19 September 2025. Hosted by the Cluster of Bioeconomy and Environment of Western Macedonia (CluBE), the mission aimed to strengthen CluBE’s capacity as a facilitator of Kozani’s Climate City Contract through innovative financing, multi-stakeholder collaboration, and strategic project development.

Driving Climate Action through Collaboration

The three-day mission gathered a diverse group of actors including local authorities, ESCOs, development agencies, and district heating companies. Participants explored ways to mobilise private capital for priority sectors such as building energy renovation and the decarbonisation of district heating networks.

Experts from the Latvian Baltic Energy Efficiency Facility (LABEEF) also contributed remotely, sharing practical insights on financing structures for energy efficiency projects.

“A just energy transition must be driven by skilled human resources, strategic investments, and strong collaboration between institutions and businesses.”

Vasileios Balachtsis, Deputy Head of the Sustainable and Intelligent Transition Department at CluBE

Building Financial Readiness and Overcoming Barriers

The sessions delved into financing models and tools that can blend public and private funds, highlighting key success factors for their implementation. Participants also examined available funding sources and instruments, helping CluBE and its partners strengthen their project preparation and delivery capacity.

A central part of the discussions focused on identifying key barriers hindering progress—ranging from limited access to capital and technical expertise to the complex regulatory environment affecting local energy projects. Addressing these challenges will be crucial to accelerate investment and ensure the long-term success of Kozani’s climate initiatives.

From Concept to Implementation

By the end of the mission, clear strategic directions and next steps were outlined for CluBE and its partners. These include advancing innovative financing mechanisms, developing partnership models, and strengthening CluBE’s service role as a project development facilitator for both public and private stakeholders.

“Successful implementation of Kozani’s climate contract requires strong public-private partnerships and innovative financial models to unlock private investment in sustainable energy projects.” 

Josip Čengija, ManagEnergy Expert & Board Advisor at REGEA

A Stronger Role for CluBE

The mission reinforced CluBE’s positioning as a key enabler of the region’s climate transition, bridging local needs with investment opportunities and European best practices. The insights gained will feed directly into ongoing work under Kozani’s Climate City Contract, advancing the city’s ambition for a just and inclusive green transition in Western Macedonia.

Find out more about ManagEnergy Expert Missions