Dubai's energy efficiency investments top $136m in 2017

Dubai's energy efficiency investments top $136m in 2017
Dubai's energy efficiency investments are said to total $136m as of 2017 [representational image].
Published: 22 July 2018 - 12:32 a.m.
By: Neha Bhatia

Dubai’s investments in energy efficiency totalled $136.7m (AED500m) by 2017, it has been revealed.

According to a report published by the Regulatory and Supervisory Bureau (RSB), the emirate spent $68m (AED250m) on energy efficiency projects in 2017, which is a third higher than the corresponding spend in 2016.

These developments are expected to achieve electricity savings of 21%, and water savings of 31%.

Additionally, the report noted the “substantial progress” achieved by independent power producer (IPP) projects, which includes the 700MW Phase 4 of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai.

The concentrated solar plant (CSP) will feature the world’s tallest solar tower at 260m, and will be the world’s largest CSP investment as well. It will also have a storage capacity of 15 hours for thermal energy.

RSB’s report also noted that district cooling companies in Dubai were contributing to resource efficiency, adding that 40% of their cooling needs were met by recycled – instead of desalinated – water in 2017. This was achieved through the support of Dubai Municipality.

Since 2014, energy service companies (ESCOs) have launched efficiency programmes worth $54.5m (AED200m) in 2,500 buildings in Dubai. RSB said these projects come as part of the building retrofit programme under way in the emirate to boost energy and water efficiency.

Saeed Mohammed Al Tayer, vice chairman of the Dubai Supreme Council of Energy (DSCE), said more than 30,000 buildings are being retrofitted in Dubai to make them energy-efficient.

He continued: “The present costs for this strategic project are approximately $8.2bn (AED30bn), with returns of $22.3bn (AED82bn) and a net present profit of $14.2bn (AED52bn).

“We work to achieve the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, to transform the emirate into a global hub for clean energy and green economy.

“The report issued by the RSB, which is overseen by the DSCE, demonstrates the promising potential for the energy-services market and the financial savings that can be achieved in building retrofits. This supports the Demand Side Management Strategy to reduce demand by 30% by 2030.”

Ali bin Abdullah Al Owais, chairman of RSB, said the report’s findings present “tangible evidence” of Dubai’s energy-efficiency programme.

“There is now substantial tangible evidence of Dubai’s energy transformation,” Al Owais said.

“We are pleased with our contribution to increasing reliance on renewable energy sources in the energy production system and accelerating investments in energy efficiency projects,” he added, according to WAM.

 

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