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Dewa visits Italy to boost renewable energy

Middle East Business

A high level delegation from Dubai is in Italy to encourage Italian companies to take part in clean and renewable projects in the UAE and Middle East.

The delegation is headed by Saeed Mohammed Al Tayer, managing director and CEO of Dubai Electricity and Water Authority (Dewa).

It also includs Dewa’s Waleed Salman, executive vice president of strategy and business development; Dr Yousef Al Akraf, executive vice president of business support and human resources; Mohammed Abdul Kareem Al Shamsi, senior manager of sustainability and climate change; Ahmed Abdullah, senior manager of external communications; and Stephane Le Gentil, CEO of Etihad Energy Services Company (Etihad ESCO).

At a business meeting in Milan, Al Tayer highlighted Dewa’s projects and initiatives in clean and renewable energy. The meeting was attended by Nora Jomaa, consul general of the UAE to Milan; Dr Marinella Loddo, director of Italian Trade Agency (ITA) Office in Milan; Dr Gianpaolo Bruno, director of ITA Office in Dubai; Dr Marco Ferioli, director of SACE Office in Dubai; representatives from SIMEST (Italian Government Project and Trade Finance Agency), representatives from PROMOS (Milan Chamber of Commerce's Internationalisation Agency), and representatives from UBI Banca, in addition to a large number of representatives from the biggest Italian energy companies.

“Currently, around 10,000 Italians live in the UAE, making it the largest Italian community in the Middle East and North Africa. And this is the result of significant growth with 600 Italian companies in the UAE today, from 200 in 2011. The current bilateral trade between the UAE and Italy is $8 billion, with exports being 90 per cent of total foreign trade, which is $7.1 billion” said Al Tayer.

“Financial institutions can become active partners in the sustainable development vision of Dubai, with plans to retrofit over 30,000 buildings to make them energy-efficient in the first phase of this project at a cost of $30 billion, bringing returns of Dh82 billion, and a net profit of Dh52 billion, as we place great importance on environmental issues that contribute to the sustainable development of the UAE,” he added.

According to Al Tayer, the Independent Power Producers (IPPs) model is a fast and active means of developing infrastructure projects, as it gathers points of strength between public and private sectors. “IPPs have become highly-effective means of achieving results and further driving innovation and diversity in the provision of public services. By making the most of public assets while generating jobs for the private sector, PPPs offer a win-win proposition for everyone,” he said.

Al Tayer urged enhanced cooperation between Dubai and Italy in renewable energy, while he noted that there is much that Italian companies can offer in the UAE and the Middle East and North Africa.

The meeting also addressed the Dubai Solar Show 2016, organised in conjunction with the 18th Water, Energy, Technology, and Environment Exhibition (Wetex), under the umbrella of Green Week 2016. The event will be taking place from October 4-6 at the Dubai International Convention and Exhibition Centre.

Al Tayer emphasised the importance of both events, which create a platform to facilitate communication, and enhance the sustainability of energy, water, the environment, green economy, sustainable development, and smart cities. – TradeArabia News Service

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