PHOENIX ONE CONSIDERS THAT THE AMENDMENT TO THE BALEARIC PORTS LAW OPENS A HISTORIC OPPORTUNITY FOR SUSTAINABLE YACHTING IN THE BALEARIC ISLANDS
The Mallorcan marine electrification company points out that the public debate has focused on concession terms and that nobody is looking at the condition that justifies them: investing in energy efficiency, sustainability and digitalisation.
The Mallorcan marine electrification company argues that the debate generated by the amendment to Law 10/2005 on Ports of the Balearic Islands, approved on 12 May by the Balearic Parliament, has focused on concession terms and has overlooked the condition that justifies them: investing in energy efficiency, sustainability and digitalisation.
The amendment establishes in Article 73 that holders of concessions on public port domain may apply for extraordinary extensions when they can demonstrate investments in the sustainable modernisation of their facilities. For Phoenix One, this mechanism structurally changes the investment horizon for the sector: for the first time, electrifying auxiliary service fleets, installing energy management systems or reducing port emissions has direct legal and economic return for the concessionaire. Phoenix One acknowledges that, with short-term concessions, no operator undertakes electrification investments that take years to recoup and that under this new framework, that equation changes.
The Balearic Islands are the main nautical destination in the western Mediterranean and manage one of the densest networks of sport and leisure port facilities in Europe, with over 15,000 berths. Most operate under public domain concessions that, under the new legal framework, can now undertake modernisation investments with a timeframe that makes them economically viable.
“Demand for electric and hybrid propulsion among European boat owners is growing rapidly. Ports and marinas that offer electric charging, zero-emission service vessels and intelligent energy management will have a competitive advantage over those that do not. The Balearic Islands now have the legal framework to undertake that transformation within a timeframe that makes it economically viable”, says Lucas Nowak, CEO of Phoenix One.
Phoenix One recognises that the opportunity is not exclusive to marine technology companies, as it directly affects marinas, sports ports, yacht clubs and tourism operators with concessions on Balearic public port domain.
