Honeywell Approved as ESCO in Dubai
The Government of Dubai, United Arab Emirates, has officially accredited Honeywell as a key energy service company (ESCO) to support the UAE’s goal to reduce its demand for energy by 30 percent by 2030. As part of this, about 30,000 existing buildings will be retrofitted to become more energy efficient over the next 15 years.
The accreditation by the Dubai Regulatory and Supervisory Bureau for Electricity and Water sees Honeywell join a group of nine UAE ESCOs permitted to provide energy optimization services to clients. This includes upgrading inefficient air conditioning systems, replacing inefficient lighting and improving building management systems.
As part of the ESCO service offering, payment terms for energy efficiency projects can be made based on actual energy and financial savings achieved after optimization work is complete. This is usually achieved through financial models such as Pay for Performance and Shared Savings, to name a few.
To support its energy efficiency approach in the Middle East, Honeywell has also introduced its Attune Advisory Services in the region. Attune combines cloud-based tools and analytics with a global network of energy and facility experts to provide enhancements that can reduce utility bills and operating expenses up to 20 percent.
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