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BELESCO organizes an array of activities to stimulate and support the development of energy contracting services in Belgium. These include:
  • Representing the stakeholders' interests to European, national and regional authorities in charge of energy efficiency policy
  • Organizing networking events for members
  • Organizing a national "Energy Contracting Day", BELESCO's annual customer-centric conference
  • Participating in other conferences, seminars and tradeshows
  • Developing and publishing guides, whitepapers, position papers and policy recommendations
  • Organizing professional trainings Promoting best practices in energy contracting
  • Providing information on standard contracts for energy contracting
  • Developing and managing a database of EPC and ESC projects
  • Conducting market studies and market surveys
  • Managing a LinkedIn group
  • Collaborating with other national or European ESCO associations

Through a number of easy and not very expensive measures proposed by BELESCO, the energy services and financing sector can, within the next 10 years, generate up to 21.7 TWh of annual energy savings. Or the equivalent of the total current (2016) renewable energy production in Belgium!

After years of costly investments in the development of renewable energy, it is time to focus on energy efficiency! That is the ambition of the EU through its “Clean Energy for all Europeans” program that prioritises the energy renovation of buildings in the next decade. The members of BELESCO, the Belgian Association of Energy Services Companies, fully adhere to his priority and are prepared to facilitate a large nationwide program for energy renovation of buildings. To achieve this goal they are prepared to rollout their offerings for services and financing solutions. To make this rollout possible BELESCO is formulating 5 key recommendations that are aimed at mobilising private investments in the energy renovation of our country’s building stock.

The 5 priority measures that Belesco proposes are:

1 -

Mandatory requirement in regional legislation for commercial and public buildings: 40% energy savings for 2030

  • Mandatory for buildings > 2.000 m²
  • Detailed energy audit based on a TCO approach
  • Energy Performance Contract endorsement
  • Mandatory implementation monitoring
2 -

Energy Performance Contracting (EPC) as a key tool for implementation and financing

  • Promotion of the development of EPC (with standardized contracts and guidelines).
  • Making EPC mandatory for public buildings (80 millions m²).
3 -

Stimulate the development of the Third Party Financing (TPF)

  • Creation of a “Guarantee Fund for Energy Efficiency” (GFEE) to deliver a “state guarantee” to loans from commercial banks and third-party financing operators in energy efficiency projects (in priority through Energy Performance Contract).
  • Development of standardized financial guidelines applying to energy efficiency investments to help banks and third-party financing operators assessing the risks.
4 -

Awareness raising & capacity building

  • Creation of a “Technical Assistance Fund” (TAF) to deliver project development assistance.
  • Support the development of local or regional one-stop-shops to aggregate projects in size and volume.
5 -

Adapt support schemes and regulations to market realities

  • Creation of a “Market Facilitator” at national or regional levels to help removing barriers to energy services market development.
  • Cooperation between the regions to harmonize regulations.

Objective: 21.7 TWh energy savings per year by 2030

Buildings remain the largest energy consumers in Belgium with 38% of the final energy consumption in 2016 (148.73 TWh). Commercial and public buildings (200 millions m²) account for 36,4% or approximately 54,14 TWh. An energy saving target of 40% in commercial and public buildings could lead to 21.7 TWh yearly energy savings, equivalent to current renewable energy production.
The investment to achieve this goal would amount to 25 billion € (125€/m²), fully funded by energy savings over a 15-year horizon. The program could be budget neutral for owners and occupants and generate significant economic benefits, through the creation 42500 FTE jobs in the energy services and construction sectors. The investment would allow reducing GHG 22 million tons of CO2 and reduce the energy dependency of our country by 5,5%.

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BELESCO, the Belgian ESCO Association, groups the major stakeholders of the Belgian energy services, energy performance contracting (EPC) and energy supply contracting (ESC) sector and related areas like Third Party Financing (TPF) and measurement and verification (M&V). This market represents a key future development of the broader market for energy efficiency and renewable energy, delivering "performance based" business, contractual and operational models to the private and public sector.

The ESCO and Energy Contracting market includes both the public and private building sector and the industry.
Suppliers include private and public Energy Services Companies (ESCOs), pubic and private EPC project facilitators and consultants, public and private banks and third party investors, energy efficiency engineering companies and other stakeholders.
Customers include private companies and building owners, real estate companies, public authorities and building owners.

The mission of BELESCO is to stimulate and support the development of professional energy services in Belgium and its regions, as well on the demand side (end customers) and on the supply side (ESCOs and their partners, third party investors and banks) as on matching demand and supply (project facilitators and consultants).

BELESCO is a non-profit organization that also aims to promote good practices, provide a networking environment and represent the sector at the regional and federal policy level.

In the area of measurement & verification, BELESCO wants to support the implementation and development of the broadly used and recognized International Performance Measurement & Verification Protocol (IPMVP), developed by EVO (Energy Efficiency Valuation Organization).


The development of the Belgian national and regional ESCO and EPC market is driven by the European climate policy and objectives, in particular the 20-20-20 targets.

Key EU directives that drive the development of energy efficiency in general and energy services in particular are the Energy Performance of Buildings Directive (EPBD), the Energy Services Directive (ESD) and the more recent Energy Efficiency Directive (EED).

On a more detailed level, the National Energy Efficiency Action Plan (NEAAP) and Regional Energy Efficiency Action Plan (REEAP) in Brussels, Flanders and Wallonia create an implementing framework that allows for more growth in the national and regional ESCO and EPC market and remove barriers for its succesful development.

Whereas the ESD created a general framework supporting energy services and ESCO development, the EED in particular has set new targets and created initiatives to stimulate an accelerated growth driven by Europe, based on evidence that EPC is a key tool to reach the European climate and energy transition objectives.

The ESCO model has proven to be not only a powerful delivery mechanism for energy efficiency, but also provides the much needed leverage and risk allocation tool to make Third Party Financing really possible.

The creation of public ESCOs by the federal and Flemish regional authorities and network distribution companies, as well as the creation of a national public competence center (Knowledgecenter), has been part of policy implementation measures under the ESD.


The initiative to create BELESCO dates back to 2008, when after the creation of the Belgian "federal" public ESCO and third party investor Fedesco (Federal Energy Services Company), several stakeholders including some large ESCOs, Fedesco itself and EnergyMag (the editor of the Energymanagers' Magazine of the same name) identified the need for accelerating the development of an ESCO and EPC market in Belgium. They were convinced of the need to increase awareness with end customers about the new opportunities that energy performance contracts and third party financing delivered. They also identified a lack of policy support for the development of EPC in Belgium, both at the national and at the regional level.

An informal working group was created to validate the idea for an ESCO association, finding inspiration with similar associations in other countries, involving a variety of marketplayers and stakeholders, both from the public and private sector.

Following historical contacts with the organizers of the annual ESCO Europe conference, this initial group managed to convince them to host the 2008 edition of ESCO Europe in Brussels. This created a the right dynamic environment and networking opportunity for an extended core group of founders to decide to create a Belgian ESCO association.

The association was set-up as an open "association" (asbl or vzw) of organizations that make up the "eco-system" of ESCO and EPC/ESC research, development, implementation and commercial activity, gathering players of different size and with different roles, rather than as a "federation" of private ESCOs as one might see in some other countries. It was believed that such an association model was more appropriate to stimulate what was (and still is to a large extent) an emerging market.

After having defined the mission, objectives and activities and drafted articles of association, the founding general assembly took place on March 5th 2010. The initial group had been grown by that time to 20 founding members. The General Assembly elected a Board of Directors of representatives from 13 (tbc) members, which again elected its President, Secretary and Treasurer, as well as management committee of 5 members, including a President of that management committee, who also acts (in collaboration with the President) as spokes person of the association.