Page 26 - RSB Annual Report 2019 English Final

THE ENERGY SERVICES MARKET Etihad Energy Services (EES) reported an investment figure of AED205 million to fund new projects, representing 72% of total investment for the year. EES’s 2019 newly reported projects alone have target savings per annum of 130GWh and target water savings of 127MIG. Figure 9 shows a comparison between EES’s EPC activities and those of private ESCOs. EES’s 14 projects employed 75% of the cumulative investments in EPC activity to date and covered 650 buildings versus 191 covered by private ESCOs. In terms of energy savings, EES projects’ share of the savings targeted by EPC activity was 65% whereas they achieved 56% of the corresponding actual energy savings in 2019. They achieved 85% of target water savings and 94% of actual savings. It is worth noting, however, that EES’s projects are implemented by accredited ESCOs and hence they have a hand in all the energy and water savings reported. Energy Performance Contracts No. of Projects No. of Buildings Total Investment Target Energy Savings Achieved Energy Savings Target Water Savings Achieved Water Savings 14 650 75 65 56 85 94 125 191 25 35 44 15 6 Figure 9 Etihad ESCO Other ESCOs The payback period for retrofit projects reported to the RSB was calculated to be three years as shown in Figure 10. Projects of a non-EPC nature promised to pay back their investment in half that period, at 1.5 years, whereas the reported figures showed that EPC projects will take 3.7 years to achieve payback, on average. However, with EPC projects actual savings are measured and verified, and either guaranteed, or shared with the client with no investment required by them, features unlikely to be offered with non-EPC projects. 26 RSB