Access to new financing options, both public and via banks, for specific or integrated activities that improve the energy efficiency and sustainability of accommodation in Spain has attracted the attention of the hotel sector, aware that energy is a key factor on their balance sheets as well as impacting on the level of satisfaction and comfort of their clients.
As such, with the launch of financing programmes, public subsidies and similar alternatives linked to sectoral entities and banks, hotels are focusing on finding specific solutions to reduce their consumption and optimise the energy they use in their day-to-day operations.
On one hand, hotels that would like to undertake integrated projects arising from an increase in the energy classification of the installations, can benefit from government funding, as demonstrated by programmes such as PIMA SOL, PAREER-IDAE and Jessica-FIDAE. On the other, if they decide to go for one-off activities that improve the partial performance of specific processes or equipment, they can access bank financing and other similar instruments, accessible through initiatives organised by the Hotel Technology Institute (ITH). These include the ITH Network and agreements in place with financial entities such as Banco Sabadell that has made a line of credit available to ITH members amounting to €200m to finance sustainable equipment.
Article published in: FuturENERGY September 2014