The nation widely associated with casinos, Grace Kelly and the Grand Prix is planning to curb its excesses – in some ways at least.
Monaco is embarking on an energy saving project to cut back its yearly energy costs by nearly a third (27%) through retrofitting five of its public buildings. This is part of the principality’s energy and climate change policy to improve the energy performance of its 400 public buildings.
The casino state wants to quit gambling with its energy use, awarding global efficiency firm Johnson Controls €2million (£1.6 million) for the agreement, called an Energy Performance Contract. It will use energy savings over time to pay for the entire upgrade.
Henri Mardegan, Regional Director for Energy Solutions at Johnson Controls said: “The principality is demonstrating great environmental and fiscal responsibility by introducing this unique energy performance contract model to the region.”
The firm will look after the carabineers’ barracks, public safety offices, Rainier III conference centre and auditorium, international meeting centre and Albert I school.