Canary Islands save €400,000 through energy saving

Currencies Direct October 19th 2016 - 2 minute read

Canary Islands government has said that it has saved €400,000 (£357,192) and emitted roughly 1,800 tonnes less CO2 in the first seven months of this year than in 2014 through public-private partnerships designed to reduce environmental impact.
Its initiatives have seen eight governmental buildings improve their energy efficiency.
Canary Islands Minister of Economy, Industry, Trade and Knowledge Pedro Ortega and Deputy Minister of Industry, Energy and Commerce Adrian Mendoza presented the results of the contracts this week.
The Canary Islands government signed the partnerships in 2014, giving two private sector firms the opportunity to provide the maintenance and management of energy systems in eight regional administration buildings, provided they could bring about improvements that could see energy savings of at least 21%.
It seems that the government’s plan has been successful, reporting that this, alongside other energy efficiency investments made in 2015, has resulted in a saving of 2,401,058 kWh compared to the year the contracts were signed.
The government said that this was equivalent to the annual consumption of 734 families.
Mr Ortega said of one of the buildings, located in Las Palmas, Gran Canaria, the government has “a photovoltaic plant of 86 plates capable of producing 20 kilowatts and capable of supplying 5% of the energy the building needs on a sunny day”.
He added that although the initial plan was to deliver energy savings of roughly 21%, savings are already now at 32%.
Mr Ortega went on to say that the government now plans to expand the photovoltaic plants to other buildings.
In the case of Santa Cruz de Tenerife, the contractor is responsible for the maintenance, management and improvement of energy installations in a number of buildings, including Presidential Building of the Government of the Canary Islands, which guarantees energy savings of 21.7% percent.
Meanwhile, in Las Palmas, Gran Canaria, the contract extends to 2029 and focuses on four buildings, including that of the Ministry of Finance. The government and the private contractors hope that energy savings of 32% will be achieved.
The contractors will carry out improvements and maintenance on various elements of the energy system, including air conditioning and lighting, and will introduce energy saving measures.
Renewable energy has been a priority for the Canaries for a while, with wind and solar power being specifically focused on as it has the appropriate climate for both elements. Recently, Tenerife approved plans for two new wind farms, with a combined power of 32.2 megawatts.
When the Islands are focusing on renewable energy, it reflects their ambitions for the future. In implementing these renewable energy measures now, the government will be hoping to ensure a good future for residents.
With so many of these plans in place, environmentally-conscious investors would be advised to cast their eye towards the Canary Islands, where the climate is warm all year round and property is reasonable in comparison to that in the UK or other countries.

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