Renewable energy investment platform encourages organizations to harness solar energy
Dubai, UAE, 29 November 2023: Regional energy company, Three Eight Six, is set to boost green fuel capacity through solar energy assets within the GCC, as it supports more businesses and government organizations to harness the power of the sun. With flagship projects in Saudi Arabia and Dubai, the renewable energy investment platform is championing the use of solar power in a bid to support national transition strategies and global net-zero targets.
Three Eight Six is among the regional organizations leading the change in the move towards renewable power production and efficient consumption. As an energy company, Three Eight Six builds, owns and operates PV assets, supporting the region’s commercial and industrial and small and mid-utility scale sectors to make their transition to green energy, reduce business operating costs and achieve cost predictability up to 30 years.
As the UAE prepares to stage COP 28, Three Eight Six Chairman, Ahmad Al Khayyat, says now is the time for organizations to re-evaluate their renewable energy strategies. He explained, “With the recent call to diversify the energy mix and broaden the renewable energy capacity by 2030, businesses with high-energy usage will have a critical role to play, and we will be working alongside the industry to support the realization of this ambitious target. Our vision is to continue to expand our reach in the UAE, Saudi Arabia, Bahrain and Oman, and across the rest of the region, to provide practical support in response to the urgent need for more clean power sources.”
With a team of international solar experts who have a combined experience of over 11 GW globally, Three Eight Six has built a diverse portfolio of projects across the GCC. Following its completion of the first ground-mounted and rooftop mix project in the Kingdom, the organization continues to expand its presence in Saudi Arabia for the implementation of solar PV projects.
Explaining the significance of solar PV energy in the region, and the Three Eight Six approach, Daniel Pedroso, Chief Commercial Officer, said, “With an abundance of sunlight, solar PV power has huge potential to be a significant and cost-effective contributor to clean energy targets in the Middle East. We understand the market, and tailor solutions to build long-term collaborations that positively impact communities as well as business operations.”
He continued, “The Three Eight Six model supports economic as well as environmental sustainability, with the development of new solar PV assets enabling us to create local jobs in the construction process. We collaborate with local partners in every jurisdiction to best strategize and bring our projects to fruition. Collaborating with local suppliers, consultants and EPCs is crucial to stimulate the private sector growth and support localization efforts.”
To help accelerate the drive towards solar PV power production Three Eight Six is among the organization exhibiting in the UAE Ministry of Industry and Advanced Technology pavilion at the forthcoming COP28. In anticipation of the event Al Khayyat said, “COP28 will be a pivotal event in shaping our progress towards net-zero in the region and internationally. We are looking forward to playing our part in boosting the capacity for solar power in this region and working in partnership to make the critical transition to green energy.”
