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Millennium bcp accelerates sustainability goals with renewed partnership with Cleanwatts for energy management
13 May 20242 minutes

This new agreement also provides for the integration of 28 of the bank’s branches into Renewable Energy Communities implemented and managed by Cleanwatts.


Cleanwatts, a pioneering company in Renewable Energy Communities (RECs) in Portugal, and Millennium bcp, the largest private banking institution and the only listed Portuguese bank, have signed an agreement that reinforces their long-standing partnership in the area of energy management in their buildings and includes the integration of 28 of the bank’s branches as members that use energy shared by Cleanwatts’ RECs. In this way, Millennium bcp will accelerate compliance with the NZEB (Nearly Zero Energy Building) objective in an economically and environmentally sustainable way.

The signing of this agreement renews the partnership between the two entities in the area of energy efficiency. For more than a decade, Cleanwatts has been leading the project to reduce Millennium bcp’s ecological footprint by reducing the energy consumption and associated costs of its buildings. More than 230 branches and 13 buildings of the bank are being monitored by Cleanwatts’ Kisense energy management platform. From 2016 to 2022, total energy consumption fell by 15.6%, translating into significant savings for the bank.

Now, the bank’s branches will also be able to buy energy from Cleanwatts communities. This first phase, which covers 28 branches, has the potential to expand as part of the Community-PPA Cleanwatts program.

We are delighted to sign this agreement, which will start with 28 Millennium bcp branches in 2024. The participation of entities with the prestige of Millennium bcp in Renewable Energy Communities projects as members, strongly contributes to increasing confidence in the benefits that RECs create, not only for energy-producing members, but also for consumer members. RECs are already a reality and continue to grow in Portugal, as an alternative to centralized production models, with social, environmental and economic benefits for their members.

Luísa Matos
Cleanwatts' CEO

“One of Millennium bcp’s hallmarks has long been its commitment to sustainability. We are close to our Customers and the communities we serve, with the aim of creating value in a lasting, consistent way, that is compatible with the social concerns, environmental protection and climate change mitigation incorporated into the values that guide our actions,” says Miguel Maya, CEO of Millennium bcp.

He added: “The Bank is committed to playing a leading role in the energy transition based on increasingly decarbonized economic development models. This new agreement with Cleanwatts contributes to this goal at the level of our operations, representing another step in the energy transition and the decarbonization of the Bank’s buildings. The branches covered will now benefit from clean energy produced locally by the RECs, helping to reduce Millennium bcp’s carbon footprint in line with the energy efficiency measures we advocate.”

An NZEB building, i.e. one with almost zero emissions, has a very high energy performance. The energy it consumes – or part of it – comes from renewable sources and is produced on site or nearby. In the case of Millennium bcp, “it is expected that a significant part of the energy consumed in the buildings covered will come from RECs”, points out Luísa Matos.

“In addition to enjoying clean, local energy at more economical and stable prices, Millennium bcp will increase its energy independence and have an aggregated view of its facilities through Cleanwatts OS, an operating system that allows us to manage and optimize our CERs, but which can also be used with other suppliers,” he adds.

This project has made it possible to avoid waste by restricting the operating hours of HVAC (heating, ventilation and air conditioning) systems and outdoor lighting, to issue alarms whenever abnormal consumption is detected and to raise awareness throughout the organization of energy efficiency and its economic and environmental impact. The data and measures implemented help support the Bank’s energy transition and sustainability, as well as the preparation of its sustainability report.

Energy Community
Energy Efficiency

Partnering with Cleanwatts, which includes energy management services and the adhesion of 28 branches to CER, allows Millennium bcp to accelerate compliance with the NZEB (Nearly Zero Energy Building) objective.

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