PHOTO
DUBAI, UNITED ARAB EMIRATES – The Federal Electricity & Water Authority (FEWA) signed a Memorandum of Understanding (MoU) with Honeywell (NYSE: HON), a global leader in Industrial Internet of Things (IIoT) technologies for buildings, to drive sustainable development and green economy initiatives in the UAE’s Northern Emirates. The collaboration details FEWA’s focus on driving significant energy savings of between 10 and 30 percent across a range of public sector buildings through the adoption of advanced energy efficiency technologies and to improve the standards of living and achieve sustainable growth by 2021.
Under the terms of the agreement which was signed at WETEX 2018, the organizations will determine a Proof of Value, focusing particularly on Honeywell’s next-generation solutions that enable significant energy savings and adhere to sustainable environmental guidelines. These technologies include building management systems, energy management dashboards and energy performance contracting (EPC).
The partnership will support the goals of the UAE Energy Strategy 2050, which is considered the first unified energy strategy in the country based on supply and demand. The strategy aims to increase the contribution of clean energy in the total energy mix from 25 percent to 50 percent by 2050 and reduce carbon footprint of power generation by 70 percent, thus saving AED 700 billion by 2050. It also seeks to increase consumption efficiency of individuals and corporates by 40 percent.
Commenting on the collaboration, Salim Bin Rabee’a, Executive Director of Electricity Directorate at FEWA said: “One of our core objectives is conservation, which is in line with our country’s vision to achieve a sustainable future for the next generation. We are working with leading global technology companies like Honeywell to collectively reduce the UAE’s energy consumption through technology that provides more energy efficient solutions and reduces operational costs.”
Honeywell and FEWA will enter into an energy performance contract based on guaranteed savings focusing on Heating, Ventilating and Air Conditioning (HVAC), cost reductions, and operational efficiencies based on cloud-based analytics, in addition to ensuring carbon emissions reduction. Facilities of particular focus for the EPC will be schools, mosques, hospitals and FEWA’s offices.
The EPC will be managed through performance dashboards and reports providing visibility of building performance. The initiative also includes the deployment of Honeywell’s cloud analytics platform, Outcome Based Service (OBS), to support increased operational performance, optimal efficiency, increased comfort levels of building occupants, and maximize uptime to positively impact the bottom line.
“With nearly 50 percent of our portfolio linked to cutting-edge energy efficiency and energy management technologies, Honeywell is well positioned to support FEWA in reducing energy consumption. In line with the UAE and FEWA Vision 2021 and the UAE Energy Strategy 2050, we remain committed to reducing energy consumption to help achieve a sustainable future,” said Susanna Minoia, chief financial officer, Honeywell Building Solutions, High Growth Regions.
Around 60 to 70 percent of energy demand in the UAE currently stems from building HVAC requirements, with split air-conditioning units making up an estimated 60-70 percent of cooling systems in the market. As part of the collaboration, Honeywell will provide FEWA with insights and data points on energy-efficient low global warming potential (GWP) refrigerants that can drive efficiencies in energy usage and cost. The collaboration highlights both organizations’ commitment to supporting the UAE Sustainable Development Plan in line with meeting the sustainability goals of the UAE and FEWA Vision 2021.
-Ends-
About Honeywell Building Technologies
Honeywell Building Technologies (HBT) is a global business with more than 23,000 employees. HBT creates products, software and technologies found in more than 10 million buildings worldwide. Commercial building owners and occupants use our technologies to ensure their facilities are safe, energy efficient, sustainable and productive. For more news and information on Honeywell Building Technologies, visit http://www.honeywell.com/newsroom.
Honeywell (www.honeywell.com) is a Fortune 100 software-industrial company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom
© Press Release 2018Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release 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. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
