A study by Siemens Financial Services (SFS) assesses the funding potential originating from the private sector so that cities can become smart cities. Apart from large-scale change, cities are increasingly looking to implement smaller-scale, smart projects. By employing asset finance from the private sector, cities can obtain additional financing for their smart transformation.
Via Siemens Financial Services (SFS), Siemens has undertaken a global study in 13 countries to assess the accessible funding potential that the top 40% of cities could raise from the private sector for such small-scale investments known as SmartStart initiatives.
Cities worldwide are increasingly embracing smart transformation through smaller projects with typical costs that range from a few thousand Euros to a few million. Public sector budgets are often insufficient to benefit from the advantages of developing a smart city, which means that alternative forms of funding from the private sector have become a priority. The potential of smart initiatives shows the extent to which asset finance can play a part in the smart transformation of cities. The SFS study estimates that €4.12bn could be funded by the private sector in Spain to promote investments in SmartStart initiatives.Read more…
Article published in: FuturENERGY October 2016