Helesco AE

Energy Performance Contracting (EPC)

HELESCO S.A., through the provision of energy services, aims to promote energy efficiency projects. Through EPC, HELESCO S.A. designs, implements and monitors these projects guaranteeing energy efficiency. The reduction of CO2 emission contributes towards achieving national and European climate change goals. Energy saving and management actions, promote environmental protection and allow for an increase in enterprises’ competitiveness by reducing the latter’s operating costs. Planned actions in light of the 4th industrial revolution demonstrate the importance and necessity of such initiatives.

HELESCO S.A. is addressed to all final energy consumption sectors (HELESCO already serves the industry and tertiary sector and shall in the future expand on groups of buildings in the domestic sector).

The project shall be completed upon repayment which shall depend on the facilities’ operation (reduced, standard or increased) as well as on the energy saving achieved. The project was launched on 1.11.2019 and, despite the pandemic, it is estimated that it shall be completed by mid-2022.

The said energy efficiency project through EPC concerns Fysiko Aerio The Hellenic Energy Company’s (energy provider) headquarters (1792m2) which are situated on the 5th floor of an office building.  HELESCO S.A. always follows the procedure appropriate for such projects.


  1. Energy audit
  2. Project design
  3. Negotiation - Signing of the EPC
  4. Project Implementation
  5. Monitoring (including maintenance)
  6. Energy efficiency verification

In designing the project, the following issues were addressed:

  • HVAC operates through a central system (boiler-chiller), and therefore any actions taken on the central system would not solely affect the 5th floor.  Thus, the design should only focus on equipment operating within the 5th floor.
  • Spaces with an autonomous HVAC have an up to date equipment, and therefore no intervention on those parts is necessary.
  • The lighting consists of LED lights, and even though their quality could be improved, any intervention would not be cost effective.

Energy efficiency measures were designed to achieve an optimal energy management within the office space. It should be noted that the building does not neighbour with any other buildings and all its facades are subject to the environment. As a result of this and the large windowed surfaces, temperatures within the floor can vary considerably according to the orientation. Therefore, in order to achieve a rational use of energy and comfort conditions in all spaces, HELESCO S.A. had to create appropriate conditions in each and every space.

In order to improve the irregular use of the Fan Coil Units (FCUs), it was decided to separate the floor into five (5) distinct thermal zones (with a total area of 1,254 m2) and to group the FCU’s in each of these thermal zones. These were re-wired and a control system was installed that centrally controls the set- point temperature and operation of each group of FCU’s.

It should be noted that, according to the EPC, Helesco S.A. having financed the project, shall be gradually repaid based on the achieved annual energy benefit which HELESCO S.A. has guaranteed.

The project constitutes an innovative initiative due to the process followed, which has complied with all necessary technical and qualitative specifications to ensure the desired result (e.g. energy audit, signing of the EPC, International Performance Measurement and Verification Protocol). The project also constitutes a pilot project aiming to expand the provision of energy services through EPC in the Greek market. In addition, due to the pandemic, the project is being tested under extra-ordinary operating conditions as a result of the reduced presence of employees in the premises and the implementation of work-from-home arrangements as well as the operation of FCUs for the protection of public health.

HELESCO S.A. has collaborated with the Centre for Renewable Energy Sources & Saving (CRES). CRES being a partner in the QualitEE (HORIZON  2020) project in Greece, has made an evaluation on the procedures followed based on QualitEE’s quality assurance criteria and has included the project in QualitEE’s pilot projects ( 

HELESCO S.A.’s employees are involved in all project stages until the project’s completion (design, implementation, monitoring).

Fysiko Aerio The Hellenic Energy Company ’s employees have evaluated the project’s design, the EPC and comply with the specifications for the operation of the energy management system (EMS).

Fysiko Aerio The Hellenic Energy Company ’s Headquarters L. Kifisias 7 5th floor.

For the time period 1.11.2019 – 30.6.2020, taking also into account the fact that the offices operated on a reduced schedule due to the pandemic, the energy saving amounted to 18MWh of electricity and 800l of heating oil, and the CO2 emissions were reduced to 13.18 tCO2. The project has not only benefited the company financially but has improved employees’ working conditions as well.

What is more important, is that the energy saving measures do not simply include the replacement of the equipment, and do not solely concern standard energy uses (e.g. heating, cooling, lighting) but can also assist as energy monitoring and management measures (payback period <3 years)

The main benefits for Helesco S.A., is that the company shall gain further experience on the provision of energy services through EPC (the company is already registered as an A category ESCO at the Ministry of Environment and Energy ’s Registry) and shall collaborate with a top energy provider.

The main benefits for Fysiko Aerio The Hellenic Energy Company, is that the company shall experience a reduction in operating costs and an improvement in employee’s working conditions (as mentioned above) as well as shall be able to receive energy services concerning the rest of the company’s facilities and its customers’ facilities (existing and new customers). It should be noted that, according to L. 4342/2015 article 9, retail energy providers are under an obligation to offer energy efficiency services to their customers. The advantages therefore are endless.