Posted: November 10, 2019



For Immediate Release

Santiago, Chile, 7 November 2019. KYOTHERM of France wins the International Energy Agency Solar Heating Programme (IEA SHC) SOLAR AWARD. KYOTHERM’s third-party ESCO solution creates a commercial advantage for solar thermal projects by taking on the investment costs and risks from end-users, which is the key to having a competitive investment environment  from day one. CEO Mr. Arnaud Susplugas received the award on behalf of KYOTHERM during SHC 2019, the IEA SHC’s International Conference on Solar Heating and Cooling for Buildings and Industry held this year in Santiago, Chile together with the ISES Solar World Congress.

From left to right: Rémi Cuer, Daniel Mugnier, Arnaud Susplugas and Ken Guthrie

“The 2019 SHC Solar Award spotlights successful financing mechanisms for solar thermal projects. The recipient, KYOTHERM, understands solar thermal’s potential to decarbonize the energy sector, and using its novel ESCO solution will no doubt be a game-changer for the industry.”  -- IEA SHC Chairman, Daniel Mugnier

The SHC Solar Award recognizes an individual, company, or private/public institution that has shown outstanding leadership or achievements in the field of solar heating and cooling.  With this year’s award, the IEA SHC recognizes a financial service provider that is pairing an innovative financing mechanism with solar thermal projects. “A low cost of financing has been a key success factor in the widespread development of the photovoltaic sector. Our purpose at KYOTHERM is to provide an ESCO third-party financing solution to solar thermal project developers that will have the same impact." CEO Arnaud Susplugas

Impact of Financing Mechanism

KYOTHERM has been structuring and financing renewable heat and energy savings projects since 2011. Continually refining and improving its ESCO third-party financing schemes, KYOTHERM recognizes that

financing a solar thermal project is not just about putting cash on the table, it is about having a clear understanding of the technical solution, the associated risks, and the constraints of the energy end-user and the different technical solution providers. To date, KYOTHERM has structured and invested in 22 projects in solar thermal, geothermal energy, biomass energy, waste energy, energy savings, and district heating networks. Its more recent focus on solar thermal is spurred by the willingness of the French state agency ADEME to see a solar thermal market similar to the one in Denmark developing in France. The largest solar thermal plant in France, and the largest solar industrial process heat plant in Europe, is under construction and KYOTHERM’s Heat Purchase Agreement will provide solar thermal heat for a set  € or $ per MWh price.  This means that 100% of the performance risk is borne by KYOTHERM and not the customer. Financing has become a commodity for the photovoltaic sector, and KYOTHERM’s goal is to do the same for solar thermal with the help of their ESCO third-party financing solution.


IEA Solar Heating and Cooling Programme (IEA SHC), building on over 40 years of experience, provides a platform for its member countries and international organizations to conduct international collaborative research, development, demonstration (RD&D) work on solar thermal energy and solar buildings. 

KYOTHERM provides third-party finance for renewable heat production and energy efficiency projects. KYOTHERM partners with project developers (energy service companies, EPC contractors…) and finance their projects with an optimal capital cost. KYOTHERM then supplies the heat or energy saving to the end user over contract periods of 5 to 25 years so that they can make savings from year 1 without having to invest.

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