Members of “SmartCity”, a four-year project developing a new energy management model for cities to achieve increased energy efficiency, lower CO2 emissions and increased consumption of renewable energy, have signed a €21m finance agreement with Spain’s Industrial Technological Development Centre (CDTI).
SmartCity, which is led by Endesa, a consortium of companies from the sector, has the overall objective to achieve 20% energy savings, and reduce CO2 emissions by more than 6,000 tonnes per year.
The project covers the Playa de la Misericordia area of Malaga, and will benefit 300 industrial customers, 900 service providers and 11,000 households.
The companies involved are Enel, Acciona, IBM, Sadiel, Ormazábal, Neo Metrics, Isotrol, Telvent, Ingeteam and Greenpower. Other contributors include various universities as well as national and regional research centres.
CDTI, a state-owned company that promotes innovation and technological development, will use its technology fund to finance €21m out of the total €31m budget for the project.