Abu Dhabi Energy Corporation today announced the start of the establishment of the Abu Dhabi Energy Services Company to join the Foundation's investment portfolio, and will enhance the transformation of the water and electricity sector in the Emirate of Abu Dhabi.
The services of the new company will contribute to the rehabilitation of buildings by changing their systems in order to rationalize and raise the efficiency of water and electricity consumption, in line with the strategy of the Emirate of Abu Dhabi relating to the management of the demand side and energy efficiency 2030, announced by the Energy Department. The company will also identify and finance appropriate solutions to rationalize water and electricity consumption.
Jassim Hussain Thabet, CEO and Managing Director of Abu Dhabi Energy Corporation, said: “We are pleased to announce the launch of Abu Dhabi Energy Services Company, which in turn will contribute to the growth of the energy efficiency solutions market, and works to meet the growing demand for these services in Abu Dhabi. The announcement of the launch of the new company comes within the framework of our commitment to the Emirate of Abu Dhabi's sustainability strategy, and represents a major milestone in the Foundation's plan to advance the transformation of the water and electricity sector in the emirate.
Thabet added: “We are working to provide sustainable solutions for our customers, and we will continue to work to ensure that the sector maintains its position by becoming a system that is efficient, reliable and achieves value, and that is appropriate for the future and meets the aspirations of the Emirate of Abu Dhabi.”
It is expected that the new company’s initiatives, which are based in Abu Dhabi, will contribute to driving the growth of the local energy services market by providing greater opportunities for private sector institutions to participate in the implementation of consumer efficiency projects throughout the emirate.