Marine Educational Area - Nature-based Solution Coalition Proposed Contribution of the Permanent Mission of the Principality of Monaco

The Principality of Monaco was one of the first countries in the world to develop ocean thermal energy conversion (OTEC) heat pump technology, installing its first system in 1963 and now operating more than 80 units. In the coming years, Monaco plans to develop two additional OTEC loops to expand the use of this technology by connecting heat pumps to a water distribution network that supplies multiple buildings, including those located farther from the shoreline. This approach improves system efficiency, reduces costs, and enables more buildings to benefit from clean energy. The system is expected to reduce greenhouse gas emissions by approximately 80% for buildings currently heated with oil and by around 25% for those using natural gas, contributing about 14% toward Monaco’s objective of achieving carbon neutrality by 2050.