Managing Director and CEO of "Global South Utilities": The UAE launches an investment portfolio worth one billion dollars in Yemen that contributes to providing millions of homes with clean energy

ABU DHABI, 1st December, 2017 (WAM) – Ali Al Shammari, Managing Director and CEO of Global South Utilities, confirmed that the new investment portfolio of one billion dollars launched by the UAE in Yemen will contribute to supplying between 2 and 3 million homes with clean energy through solar and wind energy projects.

He said that the portfolio’s investments will provide more than 6,000 direct and indirect job opportunities in the Yemeni market, in addition to their significant environmental impacts. First and foremost is reducing more than 17 million tons of carbon emissions and saving more than 1.25 billion kilowatt-hours of traditional fuel consumption, which is equivalent to more than 330 million liters of diesel.

He added in an interview with the Emirates News Agency, WAM, that the company presented, during the first National Energy Conference in Yemen, a practical vision for rebuilding the electricity sector on modern and expandable foundations, given that energy stability is not a technical service, but rather an economic engine that restarts hospitals, schools, and industry.

He explained that the company focused during its participation in the conference on the new investment portfolio, and on the partnership model with the Yemeni authorities, which is based on joint work and building real capacity within the country, in order to achieve the goal of creating an environment that makes the participation of the private sector possible, and makes energy projects able to grow and continue for many years.

Regarding the most prominent projects implemented by the company in Yemen, their cost, and the number of beneficiaries, Al-Shammari said that Global South Utilities has implemented two major solar energy projects in the governorates of Aden and Shabwa. The first is the Shabwa station, which is ready to supply about 330,000 homes with clean electricity, and the second is the Aden station, which, upon its completion in the next year 2026, will provide electricity to about 687,000 homes.

He pointed out that, thanks to these two projects, clean and stable electricity will reach more than a million homes and facilities, which is the largest transformation of its kind in the history of energy in Yemen, in addition to their contribution to reducing hundreds of thousands of tons of emissions annually and reducing dependence on expensive fuel.

In response to a question about the humanitarian and social aspects of the company’s projects, their economic impact and their role in promoting environmental sustainability, Al-Shammari said that these projects not only guarantee stable electricity, but also create an environment in which people live their daily lives with greater stability, as energy stability means health services that operate without interruption, schools capable of providing continuous education, and lower operating costs for stores and small projects, all of which are improvements that contribute directly to enhancing economic and social security.

Al-Shammari also pointed out the environmental impact of the company’s projects, explaining that they provide clean energy that reduces emissions and protects resources, making it an essential part of a long-term sustainability system.

He revealed that the company has an expansion plan based on implementing projects included in the portfolio of new projects launched by the UAE in a number of governorates in Yemen, focusing on implementing additional solar energy projects, enhancing storage capabilities, and developing distribution networks, allowing the construction of a modern energy system that can be relied upon in the coming years, and capable of serving millions of homes.

Al-Shammari explained the goal of this plan, indicating that it is to establish a stable energy base that supports economic growth and attracts investment back to the energy sector in Yemen through a long-term partnership model between the Yemeni authorities and the international private sector.

He stressed that Global South Utilities is working to expand its portfolio in multiple markets in Asia and Africa, including solar energy projects, storage solutions and distribution networks, including completing the acquisition of a 51% stake in Yashil Energy in Uzbekistan, which is the first entry of an Emirati company into the renewable energy sector in the CIS countries.

He said that the company is focusing on building energy systems with a clear economic impact, and projects that can be expanded in partnership with governments and investors, revealing that it will announce greater developments during the next phase as it expands into additional markets as part of a long-term growth strategy led by the UAE.

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