Etihad Energy Services (Etihad ESCO) has signed its first private sector service agreement with UAE-based property developer Seven Tides.
As part of this deal, Etihad ESCO will now develop and tender ESCO energy conservation and solar solutions for 22 Seven Tides properties.
Ali Al Jassim, CEO Etihad ESCO, said: “Our partnership with Seven Tides is an important achievement. We believe this will inspire other private sector players to implement energy efficient measures, which will help them with sustainable and long-term cost savings. We will also be submitting a tender for the services that will include solar PV installation at Seven Tides’ properties. In order to support private players with energy efficiency, Etihad ESCO will also provide Seven Tides with flexible financing solutions. This is a milestone service agreement and more of such involvement with the private sector is essential if we are to achieve Dubai’s 30% energy savings target.”
The service agreement is the first private sector contract that Etihad ESCO has signed after a number of retrofit projects for public sector organisations including, DEWA, JAFZA Mohammed Bin Rashid Housing Establishment (MRHE) and Dubai International Financial Centre (DIFC) . According to Etihad ESCO, the partnership with Seven Tides will highlight the effective role of the private sector in attaining the goals under Dubai’s Integrated Energy Strategy. The strategy has set a target for Dubai of 30% energy savings by 2030.
Abdulla Bin Sulayem, CEO Seven Tides said, “We are excited to cooperate with Dubai government’s efforts to develop energy efficiency. Companies today realise the significance of adopting efficient solutions, which rationalise energy consumption and take into consideration the financial impact resulting from retrofitting existing facilities. Etihad ESCO will play a pivotal role in creating efficient, high quality and environmentally-friendly opportunities in the region and we are happy to be a part of it.”
Source: Construction Week Online
