(MENAFN-Khaleej Times) A regulatory framework for energy services companies has been launched to enhance the performance of energy contracts in Dubai
Saeed Mohammed Al Tayer, vice chairman of the Dubai Supreme Council of Energy, and MD and CEO of the Dubai Electricity and Water Authority (Dewa), called on the representatives of the financial sector to encourage investment in green projects.
Al Tayer emphasised that Dewa had made several achievements, in line with its vision as a sustainable organisation on a global level, that contributes to realising the objectives of the UAE Vision 2021, and the initiative of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, under the theme ‘Green Economy For Sustainable Development.’
“We are in continuous pursuit of the objectives of the Dubai Integrated Energy Strategy 2030 developed by the Dubai Supreme Council of Energy (DSCE) chaired by Shaikh Ahmed bin Saeed Al Maktoum, to push forward the march of sustainable development and make Dubai an example to follow at a global level in the fields of energy security and efficiency, investment in renewable and low-carbon energy,” Al Tayer said.
Al Tayer was addressing a workshop on ‘Creating Bankable Green Projects in Dubai,’ organised by the Etihad Energy Service Company (Etihad Esco), an initiative of Dewa, at Grand Hyatt Dubai, in the presence of a large number of representatives of national and international banks. He said that the strategies adopted by the Government of Dubai aim to promote partnerships and innovation in the green economy sector; and that they aim to adopt global practices in the efficient use of energy, demand management, diversification of energy sources and promoting feasible investment in these areas.
“This workshop aims to discuss the challenges related to financing energy efficiency projects in Dubai and to highlight the opportunities to develop and drive green projects. This will pave the way towards establishing a niche market for energy services companies as a first of its kind initiative in the Middle East, in line with the Dubai integrated Energy Strategy 2030,” said Al Tayer
“A regulatory framework for energy services companies has been launched to enhance the performance of energy contracts in Dubai. This will further enable us to achieve the goals of the Dubai integrated Energy Strategy, which aims to reduce energy demand by 30 per cent by 2030,” he added. “It also highlights Dubai’s commitment to provide an appropriate regulatory environment to support the development and expansion of sustainable green projects.”
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