APPROACH JPP IN FINANCING ENERGY EFFICIENCY PROJECTS – FINANCIAL AND LEGAL FRAMEWORK

Knežević Snežana (Факултет организационих наука, Београд), knezevic.snezana@fon.bg.ac.rs
Marković Milanka (Правни факултет за привреду и правосуђе, Привредна академија, Нови Сад), pocucabmilan@gmail.com
Počuča Milan

The emphasis in this paper is on the application of the concept of funding publicprivate partnership to protect the environment. Policy of the European Union underlines the importance of applying PPP in sectors such as environment, energy, transportation and health care. It is important to identify the true measure of the relationship between public and private capital and increase transparency in decision making. This paper, which is located within a wide range of literature focuses on the key legal and financial aspects of the financing of energy projects. The purpose of the research is to present a relatively complete theoretical and practical system of legal and financial problems of efficient financing of energy efficiency projects, with a focus on the application of the concept of public-private partnerships. The treated material was not sufficiently investigated in the practice of environmental management, finance and regulatory framework, as integral problems. The research is applied to the case study on an adequate sample of units that make up the various relevant institutions. Seizing the results of the research led to the conclusion that the studied subject should be given more attention by using the concept of this work. The proposal is to be transformed environmental rhetoric into concrete action, both in the legislative area and in the area of financing environmental projects, which together lead to the successful implementation of the Energy Strategy for easier access to EU funds. Lack of capital is still the major obstacle for the implementation of energy efficiency projects, particularly in developing countries. Today imposes a treaty and cooperative actions of representatives of public and private sector and the public to find environmental solutions that will allow us to protect our property and our planet’s ecological environment. All sectors must unite their efforts – one cannot work in isolation. Public-private partnerships should contribute to reducing environmental risks for the company and to determine the places in the market for innovation and development. In this paper are presented the relative changes based on a defined strategy for energy development in the Republic of Serbia from 1990–2015.

Keywords: finance, public-private partnerships, the environment, energy efficiency, the legalframework framework