Dubai – Mubasher: Dubai has spent AED 250 million ($68 million) on energy efficiency projects last year, increasing its investments in the futuristic field to AED 500 million ($136.7 million) overall.
The emirate’s new projects are expected to save 21% and 31% of its electricity and water consumption, respectively, according to a report released by the UAE's Regulatory and Supervisory Bureau (RSB).
The report also referred to the progress achieved by independent power producer (IPP) projects including the 700-megawatt phase 4 of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai.
“The present costs for this strategic project are approximately AED 30 billion ($8.2 billion), with returns of AED 82 billion ($22.3 billion) and a net present profit of AED 52 billion ($14.2 billion),” vice chairman of the Dubai Supreme Council of Energy (DSCE) Saeed Mohammed Al Tayer commented.
District cooling companies in Dubai are contributing to the emirate’s efficiency plans and have met 40% of their cooling needs using recycled water in 2017.
“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,” RSB chairman Ali bin Abdullah Al Owais said.
