Energy efficiency of buildings has become a significant issue in Latvia and across Europe. More than a half (by heated area) of Latvian housing stock consists of multi-family buildings. 63% of buildings are panel houses built during the Soviet era when no one thought about energy efficiency issue and energy resources was very cheap. Today, energy prices are increasing, the EU sets targets to increase energy efficiency, reduce of GHG emissions and promote the use of renewables. Building renovation is a sustainable approach for Latvia to achieve these objectives because the housing sector is a huge consumer of energy – 40% of total energy consumption. A great way to promote such renovations is to use Energy Performance Contracting (EPC) concept. EPC is a legal contract between the beneficiary and the provider (an ESCO) of an energy efficiency improvement measure, verified and monitored during the whole term of the contract, where investments (works, supplies or services) in that measure are paid for in relation to a contractually agreed level of energy efficiency improvement. In Latvia, EPC+ contracting has been recently applied to the comprehensive renovation of multi-family residential buildings. A study is being carried out on 12 projects, which have been implemented over the last 5 years. Measurements and calculations have been carried out. Based on 2013 data, on average space heating consumption of fully completed buildings is down to 77 kWh/(m2 a) and network circulation losses is down to 4.5 kWh/(m2 a), meaning a combined figure of 81.5 kWh/(m2 a). The energy savings of the renovated building stock are calculated at 55%. On average space heating consumption of buildings partly completed is expected to be down to 72 kWh/(m2 a) and network circulation losses down to 2.4 kWh/(m2 a), meaning a combined figure of 74.4 kWh/(m2 a). The energy savings of the renovated building stock are calculated at 65%.