Page 9 - RSB Annual Report 2019 English Final

MESSAGE FROM THE CHAIRMAN It is only a little over five years ago that the compet- itive tendering process for Dubai›s first independ- ent power project, a 200 megawatt photovoltaic plant, concluded with a then record low price of 5.85 US cents per kilowatt hour. At the time many questioned whether prices at this low level were sustainable. Yet, less than five years later Dubai’s latest solar PV IPP achieved a new record low of just 1.70 US cents per kilowatt hour, a reduction of over 70%. It is small wonder then that power planners are having to turn their mind to a world characterised by an abundance of low cost solar power, with the demand and system management challenges that brings. Less well-publicised over the past five years have been the efforts of some of Dubai’s industrial com- panies to improve the efficiency and sustainability of their energy production and use. In this year’s report we highlight the licences we granted in 2019 to Al Khaleej Sugar, National Cement and Al Rawabi Dairy Company. Each has taken a different ap- proach to solving their energy needs, but all are to operate combined heat and power plant, with high thermal efficiency, and two are able to make use of a renewable feedstock, with the consequent beneficial environmental impact. We also report on the continued progress of our ESCO accreditation scheme and the retrofit pro- jects it supports. Investment since we launched the scheme is approaching AED1 billion, expected to result in savings of 620 gigawatt hours and 486 million imperial gallons, with projects paying back their investment in just three years on average. We congratulate all our stakeholders for their achieve- ments in helping achieve Dubai’s energy strategy. And I would like to thank the Supreme Council of Energy, my fellow board members, and the RSB staff for their continued commitment, support and professionalism. ALI BIN ABDULLAH AL OWAIS CHAIRMAN