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Portugal has an “exciting future” in the area of energy efficiency

Portugal has all it needs for «an exciting future» in energy efficiency, believes Mike Gordon, CEO of Joule Assets, for whom “The Portuguese real estate market is sitting on a gold mine”.

For Mike Gordon, “the Portuguese market is very interesting, in that the way that consumption (of energy) could work here is a great opportunity.” In his opinion, it would be important for the country “that banks take the projects from the hands of the initial financers and do the job themselves”, thus instilling life into stalled projects and the sector as a whole: “communities would be able, in this way, to benefit from these projects, especially as regards the creation of jobs”.

In exclusive statements to Iberian Property, he further added “for real estate promoters there are opportunities to enhance their portfolios and improved rentability, rendering assets more operational with good returns. This is not just an opportunity, but a tangible future”.

More and more, real estate needs to “quantify energy efficiency business. We have to understand who is going to pay for these projects, and to discover good opportunities. “And this has already been done within the sector”, affirms the CEO of Joule Assets. In his view, the next stage has to pass though some kind of centralization of these opportunities, and, thence, investments will be found and can be presented to investors. It is absolutely necessary that the projects be well defined and presented”. 

Another matter which, in his opinion, is crucial in order to energise investment in these markets, is the participation of insurers, so that they may also assume some of the investors’ risk, “in case something goes wrong”.

Joule Assets “is very attentive and open to opportunities and business in Portugal, we have several negotiations on-going, and we are very enthusiastic about what is ‘on the table’. If things develop as planned, we will be able to invest significantly in Portugal”, its CEO further revealed.