Business | Investment
Solar Technologies will invest Dh50m in Dubai
The company will design and assemble solar thermal power plants, solar thermal air-conditioning solutions and other solar thermal solutions for medium and large projects.
- Staff Report
- Published: 00:00 June 24, 2006
Dubai: Solar Technologies will invest Dh50 million in a facility in Dubai to develop solar energy products and solutions.
The company will design and assemble solar thermal power plants, solar thermal air-conditioning solutions and other solar thermal solutions for medium and large projects.
A total land area of 400,000 square feet will be occupied at Dubai Techno Park by Solar Technologies to develop the facilities that will also a research and development centre for designing and building solar power plants.
The company said it will commence construction of its facility within the next 12 weeks.
"We are glad that Solar Technologies has decided to set up operations of this scale in Techno Park. The increasing stress on various energy resources today has made it imperative to opt for alternate sources of energy, and solar energy has proven to be extremely viable in this regard," Abdullah Al Banna, vice president for sales and marketing at Techno Park, said in a statement.
Solar Technologies chairman Dilip Rahulan said some of the company's systems will use thermal storage at night, while the others will be combined with natural gas.
The company will target municipalities, energy and water distribution companies, telecommunication companies, metros, large real estate developments, industrial facilities and energy projects in the UAE, Oman, Qatar, Kuwait and Bahrain.
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