Dubai: Cofely Besix accredited as an ESCO companyby Yamurai Zendera on Jan 11, 2017
Cofely Besix Facility Management has officially been accredited as an Energy Services Company (ESCO) by the Dubai Regulatory & Supervisory Bureau (RSB).
The accreditation scheme aims to give prospective clients confidence in contracting with ESCO-accredited entities by recognising companies which have appropriately qualified personnel working within the organisation, a robust financial status, and a proven track record of successfully delivering energy saving projects in the UAE.
Bart Holsters, operations manager of Cofely Besix Facility Management, said: “The recognition by the governing body is very important to us, as it allows the CBFM to further develop operations in the Energy Services and Energy Performance Contracting fields,” said
“Energy Performance Contracting (EPC) is a means to deliver infrastructure improvements to facilities, and under an EPC arrangement an ESCO implements a project to deliver energy efficiency, or a renewable energy project, and uses the stream of income from the cost savings to repay the costs of the project.”
“An EPC can therefore be seen as a form of ‘creative financing’ for capital improvement which allows funding for energy upgrades from energy cost reductions. The approach is based on the transfer of technical risks from the client to the ESCO-based company, on performance guarantees given by the ESCO.”
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