DUBAI, UAE, 30 January 2023: Energy services company, Taka Solutions launched Cooling-as-a-Service (CaaS), which it described through a Press release as a disruptive pay-per-use model to decrease energy consumption and associated costs at chiller plants across the UAE. With CaaS, customers can eliminate upfront investment and operational expenditure and instead pay per unit of cooling consumed, the company said.

Taka Solutions and Green Coast Real Estate officials during the signing ceremony

CaaS is an innovative pay-per-use business model that enables customers to base their decision on lifecycle cost rather than on the purchase price of the equipment, Taka said. CaaS enables end customers to pay for the cooling they receive rather than the physical product or infrastructure that delivers the cooling, Taka said, adding that it provides its CaaS customers an opportunity to eliminate all cooling-related capital and operational expenditure, including utility bills, unforeseen costs associated with equipment breakdowns and more. Taka said it will take full responsibility to install and maintain the chiller plant, in return for a pre-agreed charge for the actual supply and consumption of cooling. Combined with a commitment to meet the customers’ obligations, the company’s goal is to have the customers’ chiller plant operating at maximum efficiency and reliability, Taka said.

According to Taka, the scope of its CaaS service includes combinations of total chiller and auxiliary equipment replacement, with brand new, state-of-the-art equipment and technology, retrofit, upgrade, refurbishment and full recommissioning of existing equipment, redesign of pump and pipework layout, as well as numerous other energy-saving opportunities. Additionally, customers can offload all liabilities and risks associated with their chiller plant, including equipment breakdowns and maintenance, Taka said.

Furthermore, customers can access the latest in cooling technology with direct technical support from the market leaders in energy efficiency, own an improved and efficient chiller plant, increase the value of their assets, substantially reduce carbon footprint and qualify for green credentials, Taka said.

Taka said it has already signed its first CaaS project, with Green Coast Real Estate (GCRE), for the client’s 11-storey residential building, in Port Saeed, in Deira, Dubai. As part of the project, Taka said, it will be financing the replacement of the chiller plant with no capital expenditure to GCRE. The plant will also be operated and maintained for the contractual duration of 15 years with no operational expenditure to GCRE, after which the plant will be handed back to GCRE at no further cost, Taka said. In addition to avoiding the cost of installing a new chiller plant by GCRE, the new equipment will generate an overall savings of more than AED 2 million in utility costs, reducing the total energy expenditure and carbon footprint, Taka said.

Mohammed Abdulghaffar Hussain, Chairman, Taka Solutions and Chairman and Co-Founder, Positive Zero, said: “Taka Solutions has always been at the forefront of the energy-efficiency industry, and the launch of its Cooling-as-a-Service model solidifies Taka Solutions’ position as the leading energy services company in the UAE. The introduction of CaaS follows the recent launch of Positive Zero, an integrated energy transition platform and parent company to Taka Solutions. Positive Zero aim to provide fully financed sustainable energy solutions, enabling the transition to a net-zero economy. With this project expected to reduce energy consumption and carbon footprint of the development, we strongly believe more projects of this nature can contribute to achieving the UAE Net Zero by 2050 strategic vision.”

Mansoor N Hussain, CEO, GCRE, said: “We are excited to sign our first Cooling as a Service (CaaS) contract in the UAE with Taka Solutions for one of our major developments in Dubai. As a customer, we enjoy several benefits, such as zero investment in optimizing our chiller plant, and no operating expenditure, as all cost of utilities and maintenance is Taka Solutions’ responsibility. This allows us to focus on our core business areas and leave our cooling needs to the experts. With a forecasted reduction of over AED 2 million in utility costs, we believe this type of pay-per-use financial model meets the needs of the energy industry in the UAE. We have no doubt the CaaS model with Taka Solutions will disrupt and transform the cooling industry in the UAE.”