Cork Council has €2m fund for retrofitting housing stock

Cork City Council has been awarded €2m in funding from the European Investment Bank (EIB) to significantly accelerate its retrofitting programme.

The funding, drawn from the EIB’s European Local Energy Assistance (Elena) initiative, will help provide technical assistance for the design and preparation of major retrofit projects across the local authority’s public building portfolio and social housing stock.

Its support will help the council to deliver increased retrofits across its housing stock from the current rate of about 150 houses a year to a target of 300 per year in the coming years, and support local employment in the construction and retrofit sectors.

As well as reducing carbon emissions in line with national and EU targets, the retrofitting will lead to lower energy and maintenance costs and improve comfort, air quality, and living conditions for tenants.

The funding over three years will go towards detailed energy audits, project design, feasibility assessments, procurement planning, and a host of other related technical work.

Lord Mayor Fergal Dennehy met EIB senior investment manager Assen Gasharov at City Hall and welcomed the award of funding.

Mr Dennehy said: 

“The Elena grant represents a major boost to Cork City Council’s capacity to deliver warmer homes, lower energy costs, and more sustainable public services.

“This investment will advance our retrofit plans and help us meet our ambitious climate goals. I want to acknowledge the dedication of the city council teams and partners whose work has made this possible.”

Mr Gasharov welcomed the partnership approach, saying: “The EIB is pleased to support Cork City Council in advancing its ambitious retrofit programme.

“Through the EU-funded Elena grant facility, we help cities build the technical foundations needed for large-scale, climate-focused investment.

“Cork’s commitment to energy efficiency and sustainability make it an excellent partner for this initiative. We look forward to seeing this work unlock longterm environmental, economic, and social benefits for the people of Cork.”