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Officials at the signing ceremony.

Etihad Esco signs partnership deal with Seven Tides

ABU DHABI, December 5, 2016

Etihad Energy Services (Etihad Esco) said it has signed a private sector service agreement with Seven Tides, a privately-owned luxury property developer based in Dubai, UAE.

This is the first private sector contract that Etihad Esco has signed after a number of successful retrofit projects for public sector organisations such as Dewa, Jafza, Mohammed Bin Rashid Housing Establishment and Dubai International Financial Centre (DIFC).

As part of the agreement, Etihad Esco will now develop and tender Esco activities for 22 properties that are owned and managed by Seven Tides.

Seven Tides owns a variety of projects spanning residential, commercial and resort properties including premium hotels such as Dukes Dubai, Anantara The Palm Dubai Resort, and Ibn Battuta Gate Hotel.  

The service agreement will provide Seven Tides with the market’s best energy conservation and solar solutions across its portfolio of current real estate and hospitality projects, said Ali Al Jassim, the chief executive of Etihad Esco after signing the deal with Abdulla Bin Sulayem, the CEO of Seven Tides.

"Our partnership with Seven Tides is an important achievement. We believe this will inspire other private sector players to implement energy efficient measures, which will help them with sustainable and long-term cost savings," remarked Al Jassim.

"We will also be submitting a tender for the services that will include solar PV installation at Seven Tides’ properties. In order to support private players with energy efficiency, Etihad Esco will also provide Seven Tides with flexible financing solutions," he stated.

"This is a milestone service agreement and more of such involvement with the private sector is essential if we are to achieve Dubai’s 30 per cent energy savings target," he added.

On the partnership, Bin Sulayem said: "We are excited to co-operate with Dubai government's efforts to develop energy efficiency. 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."

"Etihad Esco will play a pivotal role in creating efficient, high quality and environmentally-friendly opportunities in the region and we are happy to be a part of it," he added.-TradeArabia News Service




Tags: partnership | Seven Tides | Etihad Esco |

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