Dubai, UAE, 25 October 2018: Etihad Energy Service Company (Etihad ESCO) announced the signing of a contract with property developer Seven Tides, through a Press communiqué. The agreement will help the latter company save 13.2 million KWh of electricity and 2.6 million IG of water, through the implementation of a range of energy conservation measures, cutting costs by 14.8% and saving AED 7.3 million annually, the communiqué said.

Abdulla Bin Sulayem, CEO, Seven Tides and Ali Al Jassim, CEO, Etihad ESCO

The agreement was signed by Ali Al Jassim, CEO, Etihad ESCO and Abdulla Bin Sulayem, CEO, Seven Tides, during the 20th Water, Energy, Technology and Environment Exhibition, WETEX 2018, the communiqué added.

Seven Tides owns several projects in the Middle East, including residential, commercial and resort properties, the communiqué said. Etihad ESCO audited 22 buildings by Seven Tides, before proposing multiple ECMs that offer enormous scope of energy savings, the communiqué further said. The energy and equipment performance, post the implementation of the project, are guaranteed for six years, with a payback period of less than 3 years, the communiqué added.

According to Etihad ESCO, the retrofit project will encompass the installation of variable-frequency drive control on air handling units to regulate the fresh air handling units (FAHUs) based on the demand for fresh air, thereby preventing wastage of energy. This will enable FAHUs to function, based on the principle of demand-based ventilation, which provides fresh air on the basis of occupancy/demand, the communiqué said. Besides, fluorescent, metal halide and other conventional lights will be replaced with high efficiency LED lights across Seven Tides’ properties, such as Ibn Battuta Gate, Discovery Gardens, Anantara The Palm Dubai Resort and the rest of the Seven Tides projects based in Dubai, as part of the programme, the communiqué added.

Commenting on the agreement, Ali Al Jassim, CEO, Etihad ESCO, said, “We are glad to equip the private sector with energy conservation measures, thereby helping them cut down consumption, improve efficiency and contribute to the emirate’s efforts, towards the achievement of 30% reduction in energy demand by 2030.”

Abdulla Bin Sulayem, CEO, Seven Tides, said: “The benefits of retrofitting existing facilities are far-reaching, with a clear focus on cost and energy savings, while also creating increased comfort and well-being to all our residents and tenants. Sustainability is an integral element to every area of our business and, as such, we’re extremely proud of our role in supporting Dubai’s sustainability goals.”