Dubai Electricity & Water Authority (DEWA) will sell consumer goods firm Unilever nearly 21,000 International Renewable Energy Certificates (iREC).
Each certificate is equivalent to one megawatt-hour of electricity, and once acquired can be sold on to organisations that wish to secure renewable energy to power their operations.
The agreement has been facilitated by the Dubai Investment Development Agency (Dubai FDI) and supports Unilever Middle East's strategy to become carbon-neutral by 2030.
"At DEWA, we work in line with the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to transform Dubai into a global hub for clean energy and green economy,” said Saeed Mohammed Al Tayer, MD and CEO of DEWA.
“We also support the Dubai Clean Energy Strategy 2050, which aims to provide 75% of Dubai’s total power output from clean energy sources by 2050 and make Dubai the city with the lowest carbon footprint in the world.
“We also work to achieve the Demand Side Management Strategy, which was launched by the Dubai Supreme Council of Energy to reduce energy and water demand by 30% by 2030."
The purchase will allow Unilever Middle East to cover 100% of the energy consumption requirement of two of its key manufacturing sites, namely the Personal Care Factory in Dubai Investment Park and the Lipton Factory in Jebel Ali, as well as its headquarters that covers the Middle East and North Africa, offsetting 9,116 tonnes of CO2 emissions.
"We are committed to ensuring that our UAE offices and manufacturing sites transition 100 percent of their electricity requirements to clean energy,” said Cem Tarık Yüksel, MD of Unilever Gulf.
“This is part of our ambition of becoming carbon neutral by 2030 by eliminating fossil fuels from our operations and directly supporting the generation of more renewable energy than we consume."
Fahad Al Gergawi, CEO of Dubai FDI, added: "Through our dedicated Investor Aftercare Programme, Dubai FDI was able to facilitate Unilever’s ambitions and connect Unilever with DEWA, thus accomplishing an exemplary investment project aligned with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum that every investment in the development of clean energy sources is at the same time an investment to protect the environment for future generations."