As the energy efficiency and retrofit market in UAE grows rapidly, the identification of potential opportunities in the MENA region has become crucial for all Energy Savings Companies (ESCOs). The fundamental factors driving the ESCO market and energy savings are, improved performance or efficiency of existing equipment in the facility and decreased operating hours to achieve the same or higher level of output.
The UAE ESCO market, under the supreme guidance of Ministry of Energy (MoE) and Etihad Energy Services (Super ESCO), is spear heading towards achieving the targets set in the “UAE Energy Strategy 2050”, which is one of the first unified energy strategy in the country that is based on supply and demand. The strategy that is aiming at increasing the contribution of clean energy in the total energy mix from 25 per cent to 50 per cent by 2050 and reducing carbon footprint of power generation by 70 percent, seeks to increase consumption efficiency of individuals and corporates by 40 percent.
Hence, some of the key trends in the UAE ESCO market based on a recent survey carried out by Regulatory & Supervisory Bureau (RSB) Dubai for 25 ESCOs are as follows –
In conclusion, 60% ESCOs reported that the UAE ESCO market in the next 3 years shows good potential with the minimum contract size ranging from AED 6 million, for continuous operation, to AED 12 million.
Source:  UAE Ministry of Energy Official website
 MENA RetrofitTech Summit 2019, Le Méridien Hotel, Dubai, UAE
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