Monaco has signed a €2m self-funded contract to have five public buildings retrofitted for energy efficiency.
The 12-year "energy performance contract" with US-based Johnson Controls follows similar programmes in Berlin and elsewhere in that it will be funded entirely by the energy and operational savings made over time. If the anticipated savings of 27 per cent are not made, Johnson Controls will pay the difference.
The contract covers upgrades to the Carabiniers' barracks, public safety offices, Rainier III conference centre and auditorium, international meeting centre and Albert 1er Lycee. It is part of the Principality of Monaco's climate and energy plan, which includes improving the energy performance of some 400 public buildings.
Improvement work in a project of this kind typically includes refurbishing or replacing windows, enhancing the heating, ventilating and air-conditioning (HVAC) systems and the lighting and electrical systems, and new building control systems.
Leaks and waste can also be reduced, for example by a chiller plant retrofit. Johnson cites US EPA research, which suggests that most fan systems are oversized by 60 per cent while chillers are often 50-200 per cent bigger than needed.
"The Principality is demonstrating great environmental and fiscal responsibility by introducing this unique energy performance contract model to the region," said Henri Mardegan, regional director for energy solutions at Johnson Controls.
He cited a similar partnership programme implemented by the Berliner Energy Agency (BEA), which upgraded more than 1,300 facilities in Berlin and brought average annual savings of 26 per cent.