RENESCO offers following services: 

  1. Full project managment of comprehensive renovation or energy efficiency improvments for buildings (financed by the customer or client);

  2. Comprehensive renovation of a building based on the Energy Performance Contract (called as ESCO model);


Project managment

RENESCO provides all the multi-apartment building renovation project related processes, and takes full responsibility for the appropriate work activities, quality assurance, quality control, and project execution process. RENESCO manages and supervises the process of multi-apartment building renovation from the idea of the renovation to the final result, including:

1. Initiating and managing apartment owners' meetings;

2. Writing Minutes of the General Meeting and compiling technical files;

3. Organising fundraising events:

4. Selecting performers of the renovation work;

5. Providing field supervision and construction supervision as well as continuous construction process control;

6. Developing and implementing various and  sustainable solutions in the building renovation practices;

7. Offering management cost savings to the building dwellers (heating and maintenance costs).



Multi-apartment building renovation project management includes planning and managing renovation process and compiling all the required documents.

In order to ensure successful project implementation and to obtain financing from ALTUM, the following steps should be undertaken:


  • 1. Organise building general meeting

    At building general meeting apartment owners agree and vote on the decision to restore the building and to authorize RENESCO to do so on behalf of the apartment owners. 2/3 of apartment owners have to vote "FOR" renovation to start the process.  

  • 2. Preparation of documents

    In order to realize the building projects, RENESCO, according to the regulation submit documents to ALTUM:

    • Inhabitant surveys;
    • Energy audit and energy certificate;
    • Technical inspection;
    • The project application;
    • The building renovation project and confirmation cards;
    • Cost of works and expenses.

    Following a positive reply from ALTUM, RENESCO carry out the construction company and the engineering work company as well as the buidling supervisor procurement procedures. Supplier selection is carried out in accordance with ALTUM developed supplier selection guidelines.


    Contracts with suppliers have be concluded by taking into account economy, efficiency and effectiveness. Suppliers should be selected so that the resources for energy efficiency improvements should be available in time, an appropriate amount and at the best pricel to achieve the best possible relation between used resources and met objectives.


    RENESCO carry out discussions with the lending institution where:

    • Coordinate documents with the financial institution;
    • Prepare a project application documents submission and harmonization, eg., ALTUM etc.;

    Apartment owners for energy efficiency improvement project can attract a bank or other private funders who have a cooperation agreement with ALTUM. According to cooperation contract they issue funds for energy efficiency measures. The secound option for apartment owners is to get loan from ALTUM. ALTUM loan for energy efficiency improvement project implementation are available if the apartment owners fail to agree on fund raising by one of the banks which cooperates with ALTUM and the bank has issued a written consent to the fact that the apartment owners may apply for receiving a loan from ALTUM .


    During the project realization RENESCO follows the progress of the construction work in order to meet quality and project realization in time. Follow the construction documentation correctness, as well as participate in weekly meetings with constructors and supervisors. If needed coordinate any changes in the construction process with ALTUM.


    At end of the project RENESCO submits a requests for payment, all construction documentation to administering authority for approval.

    Upon completion of construction RENESCO submits acceptance act, acceptance of works between the customer (authorized person) and the building authority, and overview of the DME project implementation, payments, photocopies of supporting documents. After the receipt of the document ALTUM representative will visit the site to verify the work carried out and the technical documentation (construction magazine, author's magazine, covered work legislation, conformity of material declaration).


ESCO model



Totally 15 buildings have been renovated according to the ESCO model. It means all the buildings have been renovated at our own expense, but flat owners don’t contribute in any form. We take all the technical and financial risk of the renovation whilst guaranteeing a certain level of comfort to the building residents, as well as responsibility for energy efficiency measures in renovated buildings for a 20-year period. All renovation costs are financed by our company based on the value of future energy savings. As a result of renovations our company uses achieved final energy savings for earning the investments back as well as ensuring profits for our work and commercial risks. The ESCO concept originates from the 1980’s. It started in the United Stated after the oil-crisis of the 70’s and is currently mainly applied in industry and manufacturing sectors. The idea is based on cooperation between a large energy consumer and an innovative engineering company in order to reduce the amount of energy or raw materials used in a production process, thus saving costs.


Definition: ESCO is an investment company that invests in energy saving measures, implements these measures and earns the investments back from the achieved final energy savings over a longer period of time (typically 20 years).



Energy Performance Contracting (EPC) is a tripartite agreement between representatives of the multi-apartment building, a house management company and RENESCO Ltd.

Based on the Energy Performance Contract (EPC), ESCO company:

  1. Guarantees certain energy savings and results to be achieved if the measures are financed by the contracting authority;
  2. Finances energy efficiency improvement measures in order to achieve a certain energy savings and results.

    What benefits do residents can get after termination of the contract?

    • Renovated and modernised building with wall, attic and basement insulation;

    • Well-functioning building systems;

    • ± 50% lower costs for heating and hot water preparation;

    • Significantly lower maintenance and management costs;

    • Increased sales value of apartments.