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Spain awards Euro 19.5 Million funding for smart building projects

By Admin / Published on Tuesday, 28 Nov 2017 14:35 PM / No Comments / 566 views

Spain awards Euro 19.5 Million funding for smart building projectsCountries in the West are pioneers when it comes to innovation of smart technologies and their implementation for bettering human life. European countries have been striving to achieve their commitments towards green living through not just innovation but also through incentives for implementation of smart technologies. Spain awards Euro 19.5 Million funding for smart building projects in order to incentivize use of smart technology in construction and real estate development.

In an official announcement Spain’s Ministry of Energy, Tourism and the Digital Agenda expressed that it would be allocating Euro 19.5 Million from funds to support 6 smart building projects in 5 autonomous communities. The public funds will be allotted and made available to cities which have a population in excess of two hundred thousand (2,00,000). These cities are Andalucia, Valencia, Madrid, Catalonia and Galicia. The funds will be used for projects that would connect at least 150 buildings with IoT technology.

The aim behind this move is to facilitate the connection between buildings such as airports, railway stations, bus stations, ports and public buildings such as museums, municipal offices, sports centres, schools and markets. The initiative will be run by ICT development agency with the available funds eventually rising to EUR 30 million, thanks to the European Regional Development Fund (ERDF).

Smart buildings that are interconnected with smart transportation and communication system, facilitate the ease of human and good movements. The implementation IoT and such smart inter-connectivity and communication modules as a holistic approach, is yet to be seen in India.

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