Dubai Techno Park has announced the signing of an agreement with Solar Technologies FZE, which will invest AED 50 million in a facility located at the park, to develop high technology solar energy products and solutions. The company will be designing and assembling solar thermal power plants, solar thermal air-conditioning solutions and other large scale solar thermal solutions for medium and large projects.
A total land area of 400,000 square feet will be occupied at Techno Park by Solar Technologies to develop a cluster of facilities that will also include the region’s first-of-its-kind R&D center for designing and building solar power plants. The company’s solar power plants will use ‘Concentrating Solar Power’ plant technology to produce electric power by converting the sun's energy into high temperature heat using various mirror configurations.
Abdalla Al Banna, Vice President – Sales and Marketing, Dubai Techno Park, said, “We are glad that Solar Technologies has decided to set up operations of this scale in Techno Park, which will significantly add to the value of our clients portfolio. The increasing stress on various energy resources today has made it imperative for everyone concerned to opt for alternate sources of energy, and solar energy has proven to be extremely viable in this regard. Dubai Techno Park, with its state-of-the-art infrastructure facilities and services will serve as the ideal location for Solar Technologies to tap the regional markets.”
Dilip Rahulan, Chairman, Solar Technologies FZE, said, “Dubai Techno Park presents the perfect environment for developing alternative energy sector business and for deploying emerging solar technology solutions for energy generation. Some of our systems will use thermal storage at night, while the others will be combined with natural gas, and the resulting hybrid power plants will provide high-value, dispatchable power. These attributes, along with world class solar-to-electric conversion efficiencies, make concentrating solar power an attractive renewable energy option in the UAE, where solar energy deployment in large projects are at its infancy.”
Solar Technologies 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. The company will commence construction of their facility within the next 12 weeks.
The first technology park of its kind in the Middle East, Dubai Techno Park offers investors a host of advantages, including attractive incentives, world-class infrastructure and single-window clearance. The Park is strategically located in close proximity to the upcoming Jebel Ali Airport, the Jebel Ali Port and Dubai’s extensive highway network, allowing excellent connectivity to the region and beyond.