Smart4Power is an independent energy services company (ESCO) providing energy saving solutions for existing buildings in the public and private sectors. Smart4Power is based in Dubai and has currently several projects in the UAE, KSA and Kuwait. Smart4Power has already retrofitted 1,700 buildings and intends to reach 10,000 improved facilities in the next 4 years thanks to a healthy pipeline of projects in hotels, schools, hospitals and other commercial and residential buildings. One of the latest projects being awarded is Dubai Airport retrofit project.
Smart4Power was one of the first companies accredited as ESCO and to introduce energy savings performance contracts in the region. Its retrofitting projects bring in average between 20% to 30% energy cost savings to building owners with a payback lower than 2.5 years. Further to the transaction, the company will bring attractive financing offerings to client projects removing the need for capex investments and will expand regionally.
“Collaboration in our industry is becoming increasingly important. We want to combine our expertise and skills with like-minded and leading companies in our industry to find win-win products and supply quicker and more powerful solutions to our clients. We believe that the collaboration with ENGIE will produce such a win-win solution. We look forward to working closely with ENGIE in order to strengthen the Smart4Power offering in the GCC region,” added Hercu Viljoen, Managing Director of the Related Businesses for ALEC.
Smart4Power will benefit from ENGIE’s global energy services expertise as well as its strategic presence in the region, and from ALEC’s world class project execution capabilities.
Sébastien Arbola, CEO of ENGIE Middle East, South & Central Asia and Turkey (MESCAT) also stated that “ENGIE is implementing worldwide a broad range of business-to-business and multi-technical energy services for industrial, commercial and residential buildings. Through this acquisition, ENGIE is willing to play a leading role in the Middle-East in the field of building energy efficiency services”.
ENGIE in the GCC countries is the leading independent power and water producer, with a total gross capacity of 30 GW power and 1200 MIGD of water. As the world’s leading provider of energy efficiency services, ENGIE is committed to growing its business internationally by building on the expertise of its specialist subsidiaries and implementing a strategy of targeted acquisitions.
“Having ENGIE and ALEC as major shareholders of the company is a privilege and fantastic news to fulfil our growth plans and continue delivering world-class energy efficiency services to our clients. The fact that ENGIE and ALEC, referent players in their respective markets (energy and construction business) have decided to invest in S4P shows also the increasing importance of the energy efficiency market in the region” concluded Jesús Gutiérrez, Co-Managing Director of Smart4Power.
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About ENGIE
We are a global energy and services group, focused on three core activities: low-carbon power generation, mainly based on natural gas and renewable energy, global networks and customer solutions. Driven by our ambition to contribute to a harmonious progress, we take up major global challenges such as the fight against global warming, access to energy to all, or mobility, and offer our residential customers, businesses and communities’ energy production solutions and services that reconcile individual and collective interests. Our integrated - low-carbon, high-performing and sustainable - offers are based on digital technologies. Beyond energy, they facilitate the development of new uses and promote new ways of living and working. Our ambition is conveyed by each of our 150,000 employees in 70 countries. Together with our customers and partners, they form a community of imaginative builders who invent and build today solutions for tomorrow. 2017 turnover: 65 billion Euros. Listed in Paris and Brussels (ENGI), the Group is represented in the main financial (CAC 40, BEL 20, Euro STOXX 50, STOXX Europe 600, MSCI Europe, Euronext 100, FTSE Eurotop 100, Euro STOXX Utilities, STOXX Europe 600 Utilities) and extra-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris - World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance). To learn more: www.engie.com
About ALEC
ALEC is a multi-award winning, established and successful multi-disciplinary construction company based in Dubai. ALEC has consistently evolved and grown to become one of the largest and most respected contractors for the execution of major construction projects across its areas of operation including various resort hotels, themed retail developments, high-rise towers and airport terminals. All have been successfully completed and delivered to key clients to become iconic landmarks in the UAE. ALEC has successfully diversified its core business with the introduction of the Related Businesses and extending its capabilities. Successfully established related business units include: ALEMCO (Mechanical, Electrical and Plumbing providing fully engineered electromechanical and building services solutions to construction projects), ALEC PRECAST (design, manufacture and installation of decorative architectural precast products), ALEC FITOUT (offering full turnkey interior solutions), Smart4Power (energy efficiency solutions for existing buildings,) ALEC Energy (a provider of solar energy solutions for commercial industry), Sodexo | Hestia (Facilities Management) and AJI Rentals (High performance aerial work platform rental). To learn more: www.alec.ae
Press contacts:
Majda Soussi
ENGIE Middle East, South & Central Asia and Turkey
External Communication and Media relations Manager
Deborah Bomstein
ALEC
Marketing & Communications Manager
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