Building and Energy Conservation Bureau

A one stop agency for anyone who wants to improve housing security and energy efficiency.


The best way to provide citizens with long-lasting homes is to make sure every stakeholder from the government down to the smallest supplier has the same interest as the final beneficiary i.e. the citizen or apartment owner

To line up all interests – commercial, financial, legal and regulatory – we have developed a tested model: the guaranteed energy savings model.


This model serves most citizens providing them long term guarantees for safer, healthier and warmer homes


This model uses the existing energy productivity of the building to finance the renovation needed to deliver a safe, warm home


This model ensures the quality of the construction works

What type of renovation does my home need to make it safer, healthier and warmer one?

Balcony in facade before renovation

Balcony in facade before renovation

The renovation should be serious and by serious we mean one that includes:

  • Firstly, a solid roof and safe foundations;
  • Secondly, protection against dampness;
  • Thirdly, proper ventilation;
  • And, of course, sufficient warm and cold water.

All this define a well maintained building which ideally should be surrounded by safe and attractive yard with playground, tidy sidewalks and a parking space.

Balcony in facade after renovation

Balcony in facade after renovation

Do you want to know more about our services?

Read about our long term Energy Performance Contracting model EPC+


+ info
Nicholas Stancioff

Nicholas Stancioff


+371 29 569 921

Nicholas Stancioff is managing director of F3 and its first fund: LABEEF in Riga. June 2012, he created the “Building and Energy Conservation Bureau” (ESEB), advocating for the deep renovation of panel buildings. ESEB lobbies stakeholders and government to review Building Renovation assumptions; introducing a long term energy performance contracting model, based on original research.

Earlier at EBRD, he closed private sector transactions while participating in institution building. Gaining expertise in structuring public and private sector project finance in emerging markets. Nicholas has worked as a turn-around executive: as CEO of ITC, a Brazilian telco, raising venture capital and repositioning it -increasing revenues while decreasing costs. Earlier, as a physicals and futures commodities trader, he pioneered options engines before being tasked with M&A responsibilities.

MBA, Darden. Fluent : English/French, proficient in Bulgarian, Portuguese, Spanish.

Arnis Lelītis

Arnis Lelītis


+371 29 444 448

Arnis Lelītis is co-director of ESEB.


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