Yellow Door Energy (YDE) has announced plans to finance retrofitting works for Novotel Fujairah in the UAE.
The initiative will be carried out in accordance with recommendations made by the project’s energy service company (ESCO), EcoVis Engineering.
The programme will comprise improvements to the hotel’s heating, ventilation, and air-conditioning (HVAC) systems, and the implementation of a wastewater recovery system.
The project’s stakeholders estimate that the retrofitting initiative will help Novotel Fujairah to save approximately 12% on its annual electricity bill, and offset more than 450 tonnes of CO2.
Jeremy Crane, chief executive officer of YDE, said: “Reducing our collective environmental impact is critical for preserving the planet for future generations.
“Through projects like this, we are proving that industrial growth and development can go hand-in-hand with environmental care.”
Ahmed Al Mashaari, CEO of EcoVis, added: “Identifying energy inefficiencies for customers, and leveraging our energy efficiency and management expertise to recommend tailored solutions [designed] to eliminate said inefficiencies and save customers’ money, is a pleasure.
“Partnering with Yellow Door Energy empowers us to provide our services, purchase, install, and maintain the equipment with no upfront cost to our customers, who benefit from substantial savings from water, electric, gas, and diesel bills from day one.”
The works are scheduled to be completed within a three-month period, with no interruption to the hotel’s operations.
The project represents YDE’s first shared-savings contract. The UAE-headquartered renewables firm said that the agreement would pave the way for future energy-efficiency investments in Dubai and Jordan.
“We see this ESCO project as a great step to complement our solar leasing offer, and we look forward to participating in more […] shared-service agreements that will accelerate the region’s transition to a low-carbon future,” commented Crane.