By: Amr Adel

Dubai – Mubasher: Quantum Eurostar Energy Solutions Company’s (Qesco) on Monday unveiled a plan to launch new projects in the field of efficient energy use with a total cost of AED 250 million in the coming period.

There are new seven projects in Dubai and Abu Dhabi, five of which will be implemented in partnership with Etihad Energy Services Company (ESCO), a subsidiary of Dubai Electricity and Water Authority (DEWA), said the company’s CEO Stefano Martini.

Quantum Eurostar received a commercial licence from Abu Dhabi’s Department of Economic Development, Water and Electricity Authority, and municipality to provide efficient energy use services and consultancy in buildings in the emirate, Martini added.

The company is negotiating agreements with the Sharjah Water and Electricity Authority (SEWA) and the Federal Electricity and Water Authority (FEWA), the top official continued.

Martini stated that the energy efficiency and management solutions market is estimated at value of AED 5 billion.

The new project is expected to achieve annual electricity and water savings of AED 4.2 million, totaling AED 35 million throughout the term of the agreement, said energy management solutions director Fadi Al Faris.

The project will produce solar energy through 677 Kilowatt solar panels to generate over 1 million kilowatt-hour of energy annually, Al Faris added.

Earlier on Monday Qesco announced that it signed an eight-year agreement with ESCO.

Translated by: Muhammad Khalid