MES Barcelona, the new energy transformation plan to build a greener city
MES Barcelona is a new funding tool to help boost power generation in the city through private initiatives, with the installation of solar panelling on city buildings. The public investment of 50 million euros should attract funding from the private sector to achieve at least 166 million euros.
Energy transformation is one of the key points of the 2030 Agenda, the ambitious action plan for people, the planet, prosperity and joint work. The Barcelona Sustainable Energy Mechanism (MES Barcelona) has been set up to reaffirm the municipal commitment to this transformation. The UN has recognised MES Barcelona as the most sustainable public-private collaboration initiative out of 70 models under consideration.
MES Barcelona is an instrument to support and accelerate the city’s energy transition with private investors. Specifically, 50 million euros of the municipal budget will be invested to promote renewable energy and attract or combine with private funding for a total of at least 166 million euros for energy renovation projects and the installation of solar panelling.
This multiplying effect of the municipal investment and the number of projects carried out in the city are expected to lead to a 66% increase in the current generation of local renewable energy. The initiative is the result of an agreement between the municipal government, the ERC and JxCat.
Interested owners can register on the new MES Barcelona website so that energy investment companies can study the feasibility of projects to install solar panelling and other energy renovation measures in buildings.
What will it achieve?
The mechanism seeks to boost energy generation in the city through private initiatives, focusing on large and small areas, rooftops of industrial units and logistics plants, as well as smaller projects which between them can make the investment manageable and scalable at the same time.
An opportunity for the city
MES Barcelona offers an opportunity to attract the interest of energy operators and specialised funds to boost renewables, through an investment model which is attractive to citizens as they do not need to contribute with funding. The tool allows for the generation of energy efficiency in buildings in the city, taking advantage of their potential and the opportunity represented by installing energy generating units on their rooftops.
Selection of investors
Finally, when it comes to choosing and authorising investors, the City Council will require the focus to be on solar panelling and energy renovation projects where the business model does not involve co-funding from building owners. Investors will assume 100% of the investment and get it back thanks to the energy savings generated by the projects funded, according to the ESCO model.