Etihad Esco inks retrofit agreement with DAFZA
The MoU will see the retrofit of DAFZA’s buildings and facilities to help monitor and curb electricity and water consumption
Etihad Esco, an energy service company under the Dubai Electricity and Water Authority (DEWA), has signed a memorandum of understanding with the Dubai Airport Freezone Authority (DAFZA), as per which Etihad Esco will retrofit DAFZA’s buildings and facilities to help reduce electricity and water consumption.
Commenting on the agreement, HE Saeed Mohammed Al Tayer, vice-chairman of the Dubai Supreme Council of Energy and MD & CEO of DEWA shared: “The main objective of Etihad ESCO is to create a standalone market for energy efficiency in the UAE and the region with a strategic plan to retrofit at least 30,000 existing buildings in Dubai.”
Al Tayer went on to elaborate the Supreme Council of Energy’s role in helping support growth strategies for the Emirate’s energy sector.
In particular, he highlighted the Demand Side Management Strategy, which oversees eight programmes for energy demand.
The strategy includes guidelines for green building regulations, a plan for the retrofitting for existing buildings, district cooling management and wastewater reuse. Currently, the strategic project’s approximate worth is valued at $8.2bn (AED 30bn). It is projected to return $22bn (AED 82bn) with a net profit of $14.1bn (AED 52bn) over its lifetime.
Also present at the signing, HE Dr. Mohammed Al Zarooni, director general of Dubai Airport Freezone, said: “As the whole world constantly tries to find ways to reduce energy costs, DAFZA and Etihad Energy Services have chosen to work together to develop energy-efficient based initiatives and projects that will be environmentally sustainable across all DAFZA 's facilities.”