The Principality of Monaco has awarded Johnson Controls, a leader in building efficiency, a €2 million contract to retrofit five public buildings, decreasing annual energy costs by 27 percent. The energy performance contract is the first of its kind in Monaco and will use energy savings over time to pay for the entire upgrade with guaranteed savings.
“The principality is demonstrating great environmental and fiscal responsibility by introducing this unique energy performance contract model to the region,” says Henri Mardegan, regional director, Energy Solutions, Johnson Controls. “Energy retrofits provide economic and environmental payback and with performance contracting, no upfront capital is needed. If the savings are not achieved, Johnson Controls will pay the difference providing zero performance risk to the principality.”
This contract is fully in line with the Climate & Energy plan of Monaco to improve the energy performance of its 400 public buildings. Johnson Controls will focus on the carabineers’ barracks, public safety offices, Rainier III conference centre and auditorium, international meeting centre and Albert I school. Johnson Controls will oversee the project design, equipment installation and maintenance for 12 years as part of the energy performance contract.
This type of energy efficiency program is modeled after successful programs in Germany. A notable example in Germany includes an energy-savings partnership implemented by the Berliner Energy Agency. The program upgraded more than 1,300 facilities in Berlin reaching an average annual savings of 26 percent.
Johnson Controls has executed more than 2,500 energy performance contracts globally and has guaranteed nearly $7.6 million of energy savings for its customers.
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