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CORYS ENVIRONMENT LAUNCHES A DUBAI-BASED COMPANY DEVOTED TO NET METERING

Corys Environment, the environmental investment arm of Green Coast Enterprises announced in December 2015 the creation of a Solar Energy Company – SirajPower, to provide comprehensive turnkey net metering solutions on solar rooftops in Dubai.

SirajPower will be able to call on the proven expertise of its founding company, Corys Environment, to offer comprehensive solutions combining development, financing, construction and operation of solar rooftops for commercial and industrial companies based in Dubai with no front-cost for customers. SirajPower is already operational and has already secured its first projects representing a total capacity of 1.3MWp while still working on numerous other feasibility studies. The construction works for the first project will start in January 2016. The company launch is in line with the Shams initiative, the new regulatory framework put in place by the Dubai government in order to encourage a surge in net metering solutions. Combining financing solutions and very long-term visibility on electricity charges, net metering is a high-potential market in Dubai, particularly given that solar energy market is still untapped.

David Auriau, CEO of Corys Environment, says: "We are delighted to be able to launch ourselves on Dubai's net metering market. Corys Environment is a company with proven expertise in terms of developing, financing, constructing and operating assets around the world. We have an extensive knowledge of Middle Eastern markets and benefits from the soundness of its parent local company, Green Coast Enterprises. This is a wonderful opportunity that marks a milestone in the surge in net metering in Dubai, a market we know has amazing potential. We are very pleased to announce the launch of SirajPower company. Our ambition is to turn Dubai into a true solar city visible from the sky."