DP World signs solar deal with ‘green champion’ SirajPower

DP World’s solar power initiative will generate energy for 4,600 homes in Dubai. (Shutterstock)
Updated 21 November 2018
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DP World signs solar deal with ‘green champion’ SirajPower

  • The 22-year lease agreement announced on Tuesday will see UAE-based SirajPower initially deliver 15MW-worth of panels to Jafza
  • The deal forms part of DP World’s solar program which aims to ramp up use of sustainable and environmentally friendly energy sources across its facilities

LONDON: Global ports operator DP World has signed a deal with UAE-based SirajPower to install solar roof panels at its facilities in the Jebel Ali Freezone (Jafza) and National Industries Park as part the company’s efforts to reduce its energy consumption and cut costs.
The 22-year lease agreement announced on Tuesday will see UAE-based SirajPower initially deliver 15MW-worth of panels to Jafza.
The deal forms part of DP World’s solar program which aims to ramp up use of sustainable and environmentally friendly energy sources across its facilities. It follows the launch of the UAE’s first green storage and warehouse facilities at Jafza in June this year, with some cool storage facilities now entirely run on solar energy while other warehouses are becoming more energy efficient.
In late 2016, DP World announced the start of the construction of the largest solar rooftop project in the Middle East, with the commissioning of 88,000 rooftop solar panels across its Dubai facilities.
“Creating a sustainable business model through the implementation of green technologies is a core focus for DP World, and one of our key initiatives is our ground-breaking solar power program that will generate enough energy to power 4,600 homes on completion,” said Mohammed Al-Muallem, CEO and managing director, DP World, UAE region.
DP World has reduced its CO2 emissions intensity by 24 percent since 2008, Muallem added, in a statement on Tuesday.
SirajPower hopes the DP World deal as a springboard for regional growth, said Laurent Longuet, the company’s CEO.
“We witnessed a rapid growth in only three years and our plan now is to expand our offering to other emirates and countries in the GCC, as well as making a foray into the residential market to truly become the regional green champion,” he said.
SirajPower said it would open a branch in Jafza to support the installation of the new units. Construction is expected to take 18 months, the company said.
In 2015, Dubai Electricity and Water Authority (Dewa) launched the Shams Dubai solar initiative aimed at encouraging individuals and businesses to install PV panels to generate electricity and connect them to the Dewa network. The program supports government targets for Dubai to generate 25 percent of its energy needs from solar by 2030.
SirajPower has won contracts for 50MW-worth of the solar rooftop projects implemented under the Shams program to date.


Nissan meets to replace Ghosn, as tensions with Renault grow

Updated 17 December 2018
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Nissan meets to replace Ghosn, as tensions with Renault grow

  • The decision on replacing Ghosn at Nissan is being led by an advisory committee that includes a former Renault executive
  • The Japanese company removed Ghosn from his post last month after he was detained on allegations of under-reporting his salary

TOKYO: The board of automaker Nissan meets Monday to discuss replacing former chairman Carlos Ghosn after his arrest for financial misconduct, as tensions grow in the firm’s alliance with Renault.
The Japanese company removed Ghosn from his post last month after he was detained on allegations of under-reporting his salary.
But it appears unlikely to agree Monday on a permanent replacement for him, in part because of open discord in its alliance with French automaker Renault.
Nissan itself faces charges for allegedly submitting financial documents that understated Ghosn’s pay, and Renault is now reportedly seeking more sway on the Japanese firm’s board.
The Wall Street Journal reported Sunday that Renault urged Nissan in a letter to hold a shareholders meeting to discuss Renault’s representation on the firm’s nine-member board and within its top management.
It warned that Nissan’s indictment “creates significant risks to Renault, as Nissan’s largest shareholder, and to the stability of our industrial alliance,” the Journal reported.
A source with knowledge of the issue confirmed that Nissan had received the letter and was planning an extraordinary shareholders’ meeting in January.
Renault’s letter is the latest sign of the tensions in the alliance that groups the firm with Nissan and Mitsubishi Motors — a partnership that Ghosn forged and was often credited with holding together.
While Nissan and Mitsubishi Motors quickly removed Ghosn from leadership positions after his arrest, Renault has kept the auto executive on as CEO and chairman.
And while Nissan CEO Hiroto Saikawa launched a broadside against his former mentor shortly after his arrest, describing his “dark side,” Renault has approached the allegations more cautiously.
The decision on replacing Ghosn at Nissan is being led by an advisory committee that includes a former Renault executive, and Japanese media reports suggested it was unlikely to reach a decision on Monday.
“It slows things down, but it isn’t the end of the world,” a source close to the issue told AFP.
“We need to let them talk and decide properly. That’s more important than rushing.”
The company is instead likely to announce new governance measures intended to address criticism that it failed to prevent Ghosn’s alleged misconduct.
As his former employer wrangles over his replacement, Ghosn remains in the one-man cell at a Tokyo detention center he has occupied since his shock arrest on November 19.
Prosecutors have already charged him with under-reporting his pay by around $44 million over the five years to 2015, and are also investigating claims he under-reported it further in the last three years.
He will be detained until at least December 20, when prosecutors will either file new charges or request another 10-day detention period while they continue investigations.
A range of additional claims of financial misconduct have been made against Ghosn, including using Nissan funds to purchase homes around the world, though prosecutors have yet to level those accusations formally.
He and his former right-hand man Greg Kelly, who is also under arrest, reportedly deny any wrongdoing.
The charges have sparked a legal battle over Ghosn’s flat in Rio de Janeiro, with Nissan trying to prevent his family members from accessing the property and removing items.
A Brazilian court authorized relatives to access the apartment, despite claims from Nissan that they were removing corporate documents.
Ghosn’s arrest marked a stunning reversal of fortune for the Franco-Brazilian-Lebanese tycoon, once revered in Japan for effectively rescuing Nissan from insolvency.
He helped engineer the alliance between Nissan, Renault and Mitsubishi, creating a partnership that sold more cars than any other globally last year.