With the aim of achieving a Near Zero Energy District, a series of interventions have been designed focusing on improving the sustainability of the FASA neighborhood in Valladolid, increasing its energy efficiency and reducing the CO₂ emissions of its buildings. In order to achieve this objective, the REMOURBAN project will act on the envelope of its buildings, on their illumination and it will modify the thermal installations to replace the current fossil fuels by renewable sources, for both heating and domestic hot water. These actions will make Valladolid a smart city benchmark with interventions in the energy, mobility and ICT sectors.

High upfront costs that district energy retrofitting entails, implies long-term financing schemes. Moreover, multi-private ownership in Spanish residential sector hinders the decision-making process. In the case of CITyFiED project, an innovative business model has been developed between an Energy Services Company and a Building company for Torrelago district renovation. This paper addresses this demo case from a global perspective, identifying the elements of the business case using the Canvas methodology approach and analysing the financing scheme. After a total investment of 16.5 M€, the energy savings achieved enable the payback without increasing the Community fees to the dwellings’ owners.