Akuo Middle East is based in Dubai and dedicated to developing renewable energy projects in the Near and Middle East region
It aims at proposing various solutions covering from large grid-utility scale wind and solar projects to distributed generation solutions such as roof-top or hybrid solar-storage-diesel systems. In the United Arab Emirates, Akuo Middle East incorporated a Joint Venture with a prominent industrial local partner and is focusing on the development of distributed generation roof-top projects under the Sham's Dubai net metering regulatory framework.
Though it is a challenge to initiate green project development in the cradle of oil, Akuo considers there is a serious opportunity to promote wind and solar technology in a part of the world that is blessed with sun (and wind in some areas), coupled with the record-breaking low oil prices that push the Government to diversify their electricity mix and to decrease the energy subsidies. Most of the countries in the region have already initiated plans to include renewable energy into their global energy mix. Some are extremely ambitious and 2018 will see among the largest solar plants in the world being put in operations.
Akuo Middle East has the ambition, leveraging on the strength of the Group, to play a significant role in such developments.
Accordingly, Akuo Middle East has co-founded in 2016 SirajPower (www.sirajpower.com) with the local company Corys Environment, which is focusing on the roof-top net metering scheme in Dubai. This mechanism allows commercial and industrial electricity consumers to make the most of their empty roof to install and consume electricity from solar panels, hence reducing their electricity bills. Siraj Power builds, finances and operates - through a lease - the solar systems.
SirajPower has already signed 4 large roof top projects which are due to start operation in 2017 and has developed a pipeline over 100 MW. Akuo Middle East is also very active in proposing Hybrid solar-storage-diesel solutions for isolated sites. Akuo Middle East targets a capacity of 550 MW of projects in operation, under construction or in development in the coming 5 years, including 300 MW in the Emirate of Dubai.
Akuo is also present in Dubai through its affiliates Akuo Solutions.
At the beginning of 2017, Akuo has 35 persons on the ground in Dubai.