Cork City Council Secures €2m grant from the European Investment Bank to accelerate retrofitting

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

The funding, drawn from the EIB’s ELENA (European Local Energy Assistance) 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 city 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, supporting local employment in the construction and retrofit sectors.

It will also help develop a multi‑year project pipeline aimed at upgrading targeted Cork City Council-owned public buildings to higher energy‑performance standards while reducing carbon emissions in line with national and EU targets.

This will lead to lower long‑term energy and maintenance costs and improve comfort, air quality, and living conditions for tenants.

The funding over three years will underpin Cork city’s efforts to scale its carbon emission reduction programme, it will support detailed energy audits, project design, feasibility assessments, procurement planning, and a host of other related technical work.

The grant is expected to unlock substantial follow‑on investment in deep retrofit works over the coming years, delivering improved energy performance, reduced emissions, and enhanced comfort for residents and building users.

The award also strengthens Cork’s role in the EU Mission for Climate-Neutral and Smart Cities, where Cork City Council is working to accelerate the city’s journey to climate neutrality.

While the Cities Mission requires a whole of city approach, Cork City Council is striving to lead by example by looking at what can be achieved in relation to assets within its control.

The Lord Mayor of Cork, Cllr Fergal Dennehy, met EIB Senior Investment Manager, Assen Gasharov, at City Hall and welcomed the award of funding.

“I warmly welcome this significant support from the European Investment Bank,” the Lord Mayor 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 between Cork City Council and the EIB.

“The EIB is pleased to support Cork City Council in advancing its ambitious retrofit programme,” he said.

“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 long‑term environmental, economic, and social benefits for the people of Cork.”