Etihad Energy Services Company (Etihad Esco) has signed an agreement with the Dubai International Financial Centre (DIFC), the financial and business hub connecting the region’s emerging markets with the developed markets of Europe, Asia and the Americas, to reduce energy consumption and carbon footprint of the properties owned by the DIFC.

Dubai’s official super Esco driving the development of an energy performance contracting market, Etihad Esco said the agreement is part of its mandate to create a market that meets the growing need for energy-efficient solutions in Dubai as new projects and developments are in the pipeline.

Saeed Al Tayer, the vice chairman of the Dubai Supreme Council of Energy (DSCE), MD and CEO of Dubai Electricity and Water Authority (DEWA), and chairman of Etihad Esco, said: "As a market driver, Etihad Esco is committed to delivering energy efficient solutions via existing energy services companies to further establish Dubai as a global hub for energy efficiency."

"Our strategic collaboration with the DIFC will serve to further solidify partnerships between the public and private sectors through Energy Performance Contracting in Dubai and enable us to provide new business opportunities for joint ventures, encourage international partnerships, and engage budding entrepreneurs in the field. We also aim to support and encourage partnerships within the private sector to strengthen Dubai’s status as a global smart and sustainable city," observed Al Tayer.

Commenting on the deal, Essa Kazim, the governor of the DIFC, said: “It is essential that any developments within the DIFC district incorporate sustainable, long-term energy solutions in line with global standards and in support of Dubai’s vision to become an internationally-recognized energy-efficient city.”

Discussing the demand for energy efficiency solutions in Dubai after the signing,

Etihad Esco CEO Stephane le Gentil pointed out that many owners were recognizing the need for sustainable, energy-efficient buildings, while at the same time considering the financial implications of retrofitting existing facilities.

"Cost is a key factor driving the decision, and we are able to address this concern in the Dubai market through providing financing options that enable building owners to upgrade existing infrastructure without the need for capital investment," he added.-TradeArabia News Service