Abu Dhabi has launched the second phase of its Noor Abu Dhabi public-private partnership (PPP) Street Lighting Project, Abu Dhabi Media Office tweeted on Wednesday.
The first phase of Noor Abu Dhabi, which aims to replace existing lights with energy-efficient LEDs, was awarded in March 2020.
Abu Dhabi Media Office tweeted that that the second phase, launched by Department of Municipalities and Transport, through Abu Dhabi City Municipality, and Abu Dhabi Investment Office (ADIO), aims to replace 140,000 streetlights with energy-efficient LEDs.
"This new project will be three times larger than Phase 1," the tweet said.
The project, according to the tweeted infographic, would achieve approximately 76 percent reduction in power consumption, save almost 2,400 million kWh of energy, and generate equivalent cost savings of 705 million UAE dirhams ($192 million) over a 12-year period.
"PPP is a key lever under Ghadan21 to promote private sector investment and greater collaboration between public and private sector in the emirate," the media office said.
(Writing by Syed Ameen Kader; Editing by Anoop Menon)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2020