UAE ports operator DP World is to launch a crowdfunding project with Dubai Carbon Centre of Excellence to help retrofit warehouses in Dubai’s Mina Rashid port, National reported quoting a statement from Dubai Carbon.
The agreement was signed by Nabil Battal, Global HSE Director of DP World and Ivano Iannelli, CEO, Dubai Carbon on October 23rd at the19th edition of Water, Energy, Technology and Environment Exhibition (WETEX), which runs on October 23rd at Dubai International Convention and Exhibition Centre (DICEC).
DP World has teamed up with Dubai Carbon to launch the initiative, under which UAE residents will reap returns generated through installing solar energy
at four industrial sheds.
Using an online crowdfunding platform, UAE residents will be able to invest in a total of 3,000 kilowatts of solar energy, a statement from Dubai Carbon said.
“DP World’s Solar Power Programme has far reaching environmental benefits and we are pleased that various stakeholders are contributing to its continued success including the Dubai Carbon Centre of Excellence (DCCE). We’ve provided four sheds on which to install solar panels and DCCE is taking the project to a crowdfunding platform, allowing a range of investors to finance an important development towards positive economic and societal change. At DP World, our approach is forward-thinking and long term – we are investing in technology, people and partnerships to lead the future of world trade,” said Nabil Battal, Global HSE Director of DP World Global.
Investors will attain a return through the kilowatt hours generated from the project, at an estimated rate of 40 per cent over a ten-year period, the statement added.