Monday 4 July 2022

Esco, Philips unit partner for energy solutions

RIYADH, May 23, 2018

Shaker Group’s Energy Services Company (Esco), a leader in energy efficiency solutions, has signed an agreement with Signify, the new company name of Philips Lighting, to deliver efficiency studies and retrofitting across Saudi Arabia, with a focus on LED lighting solutions.

Signify’s role under the memorandum of understanding (MoU) will be to provide direct support to Esco projects through systems and technologies, creating synergy between an industry-leading global player and an established local company.

Azzam Saud Almudaiheem, chief executive officer at Shaker Group, said: “Esco and Signify are working hand in hand to support the kingdom’s energy efficiency agenda, which is an important part of our country’s wider socioeconomic programme.

“Through this strategic partnership, we aim to achieve the highest level of energy efficiency in government-owned and commercial buildings, by carefully evaluating requirements and fitting best-in-class products. Our aim is to deliver nothing less than a global standard across projects, and we are certain that our local expertise, combined with Signify’s unrivalled experience in delivering energy efficient systems, will prove to be a great success.”

In 2017, Esco was awarded the Saudi Energy Efficiency Centre’s (SEEC) Certificate of Qualification, which provides the company with a licence to assess engineering services for efficiency standards, lead on energy efficiency project management, conduct data and building audits, and measure and verify services.

“The receipt of our SEEC accreditation is testament to our business’ track record in delivering on a number of distinguished and environmentally-friendly projects, and we look forward to working together with Signify in helping drive further momentum

“At group level, we have identified a clear opportunity in the efficiency space, with utilities tariffs increasing, and businesses and homeowners looking to reduce their energy spend. We’re in a good position to utilise both our experience and our technology, to take full advantage of this scenario,” added Almudaiheem.

Alaa Ameen, CEO of Signify Saudi Arabia, said: "We provide a full range of innovative energy-efficient systems and solutions in Saudi Arabia, and look forward to benefitting from our MoU with Shaker Group, in direct support of the government’s ‘Tarsheed’ programme, which has the objective of increasing and boosting energy efficiency in the kingdom.”

Signify became the new company of Philips Lighting on May 16, 2018. The legal name of Signify will be adapted in Saudi Arabia in the course of January 2019, a statement said. – TradeArabia News Service

Tags: LED | Shaker | energy solutions | Philips Lighting | ESCO |

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