December 10 (SeeNews) - Akuo Energy Solutions, subsidiary of French renewable energy producer Akuo Energy and Corys Environment, the environmental investment arm of Green Coast Enterprises have set up a joint venture to provide comprehensive turnkey net metering solutions on solar rooftops in Dubai.
The companies announced on Monday the new joint venture is already operational and has secured its first projects representing a total capacity of 1.3 MW. The construction works for the first project will start in January 2016.
"The launch of the joint venture is in line with the Shams initiative, the new regulatory framework put in place by the Dubai government in order to encourage a surge in net metering solutions. Combining financing solutions and very long-term visibility on electricity tariffs, net metering is a high-potential market in Dubai, particularly given that solar energy market is still untapped," the two companies said in a statement.