Dubai: Privately-owned Green Coast Enterprises is using its environment investment arm Corys Environment to launch a joint venture with technology and engineering service company Taka Solutions.

The joint venture will aim to optimise “the use of energy in buildings and homes using energy efficiency and the energy performance contracting model,” according to a Corys Environment statement on Tuesday.

The joint venture is to be based in the United Arab Emirates, combing Taka Solutions “technical expertise with the financial strength of Corys Environment.”

“This new stage of our company and partnership will allow us to offer larger financing, deeper retrofits, and will eventually help save more energy, carbon and money for our clients,” Taka Energy Services managing director Charles Blaschke said in the statement.

Corys Environment chief executive David Auriau said in the statement “This new initiative is fully in line with Corys Environment’s positioning of investing into the green economy for a sustainable development of the UAE and the region. Investing into energy conservation through the creation of our new company Taka Energy Services is another step in that direction.”

Green Coast Enterprises is a private group established by the Abdul Ghaffar Hussain Family in 1977.