UAE’s Ras Al Khaimah emirate to rope in more ESCOs in energy saving strategy

UAE’s Ras Al Khaimah emirate to rope in more ESCOs in energy saving strategy

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The emirate of Ras Al Khaimah (RAK) in the UAE is planning to bring in more contribution from the private sector as part of its strategy to reduce energy and water consumption and raise the share of renewable energy.

RAK Municipality is aiming to attract more Energy Service Companies (ESCOs) to the emirate as part of efforts to save 30 percent in electricity consumption, 20 percent saving in water consumption and achieve 20 percent contribution from renewable energy in the generation mix as per its Energy Efficiency & Renewables Strategy 2040.

“We have more than 20 ESCOs registered in our accreditation scheme. Some of them have already been assigned projects, and some have established their presence in RAK. We will welcome more of them on the territory, together with other product and service companies in the field of sustainable energy,” said Andrea Di Gregorio, Executive Director, Energy Efficiency & Renewables Office (Reem), Ras Al Khaimah Municipality, Government of Ras Al Khaimah.

“We are working on two types of ESCO project models: One is a guaranteed saving model in which the customer such as the government entity or commercial entity invests in a retrofit and the ESCO guarantees the saving; If the saving is