Ministry of Energy and ESCO sign MoU
As per the agreement, the two organisations will work together in developing the federal energy services market in the UAE
Etihad Energy Service Company (ESCO) and the Ministry of Energy have announced the signing of a Memorandum of Understanding (MoU) for the development of a federal energy services market in the UAE.
The agreement will focus on energy conservation in buildings, particularly government-owned structures, as well as related projects in energy management.
The signing ceremony was attended by members of the Ministry of Energy, DEWA and Etihad Esco. HE Saeed Mohammed Al Tayer, vice chairman, MD & CEO of DEWA and HE Dr. Matar Hamed Al Neyadi, Undersecretary for UAE Ministry of Energy, signed the MoU.
"We are working hard in the Ministry of Energy to develop strategies dedicated to enhancing the opportunities of the ideal use of energy in the UAE, as the Ministry has put the conservation of energy and water consumption as one of its strategic goals,” commented HE Dr. Al Neyadi.
He added: “Our partnership with Etihad Energy Services Company (ESCO) will assist in promoting innovation in setting sustainable measures that contribute to positioning the UAE as a global hub for green economy.”
The undersecretary went on to explain that the MoU with ESCO will assist in expanding market opportunities for energy services. The continued development of the market would then lead to better opportunities for energy efficiency improvement and increased awareness on the benefits of reducing energy consumption.
Commenting on the signing, Stephan Le Gentil, CEO of Etihad ESCO, shared: “The fact that the region is still an emerging market in the energy efficiency field, holds great potential for Dubai to be a pioneering sustainable city.
He concluded: “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.”