"Union Water and Electricity" and "Epoint Zero" They enhance the sustainability of energy supplies
Dubai, November 17, 2017 (WAM) – Union Water and Electricity announced the signing of a memorandum of understanding with EPoint Zero, the global investment platform specialized in providing integrated solutions across the value chain of the energy sector and affiliated with the International Holding Company Group, in order to explore opportunities to develop new projects that enhance the capabilities of energy supply in the Emirates, and support the path of transition towards clean energy in the region.
Through this partnership, Etihad Water and Electricity seeks to enhance the efficiency, reliability and sustainability of the electricity network in the region, with a focus on energy generation program projects, including the areas of gas, renewable energy, and battery energy storage solutions.
Under the memorandum of understanding, the two parties will work to study and evaluate potential project locations, investment models and appropriate financing structures. EPoint Zero and its subsidiaries may also contribute to providing the advanced technologies, equipment and engineering services necessary to accelerate implementation and ensure optimal integration with the national grid.
Engineer Yousef Ahmed Al Ali, CEO of Union Water and Electricity Company, said that the memorandum of understanding represents a pivotal step towards developing a more efficient and sustainable energy system in the Emirates, and through this cooperation the company seeks to support the stability of energy supplies and reduce carbon emissions, in line with national trends in this sector.
He stressed that the partnership with EPoint Zero embodies the integration of experience and innovation, which contributes to achieving tangible value that advances sustainable development efforts in the region.
For his part, Mohamed Hisham, CEO of EPoint Zero, said that cooperation with Union Water and Electricity constitutes an important step towards enhancing the flexibility of the energy sector in the region, pointing out that the two sides are working to develop a new model for integrating generation, storage and transportation operations, which contributes to strengthening national capabilities and achieving sustainable growth for the communities it serves.
The Emirates Utilities Development Company (EUDC), a subsidiary of Union Water and Electricity, which specializes in developing and managing infrastructure projects, will implement the projects planned within the framework of this cooperation.
Once the detailed feasibility studies and necessary technical procedures are completed, the partnership between the two sides may develop into a broader joint cooperation agreement through which investment and implementation frameworks will be structured.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
