Riyadh - Sharikat Mubasher: Three Eight Six, the renewable energy investment platform based in the UAE, plans to strengthen its solar growth in the GCC region, notably Saudi Arabia and the UAE.
In a press release, the company stated that it plans to boost the region’s green fuel capacity through solar energy assets as it encourages more businesses and government organizations to harness solar power.
The energy company builds, owns, and operates PV assets in a bid to support the region’s commercial and industrial sectors to bolster their transition to green energy and reduce business operating costs.
Ahmed Al Khayyat, Chairman of Three Eight Six, stated that organizations must re-evaluate their renewable energy strategies to diversify the energy mix and diversify the renewable energy capacity by 2030.
He stated: “Our vision is to continue to expand our reach in the UAE, Saudi Arabia, Bahrain, and Oman, and across the rest of the region to provide practical support in response to the urgent need for more clean power sources.”
Three Eight Six aims to expand its business in the Kingdom by implementing solar PV projects, following the completion of the first ground-mounted and rooftop mix project in Saudi Arabia.
Speaking about the company’s participation in COP28, Khayyat commented: “COP28 will be a pivotal event in shaping our progress towards net zero in the region and internationally. We are looking forward to playing our part in boosting the capacity for solar power in this region and working in partnership to make the critical transition to green energy.”
For his part, Daniel Pedroso, Chief Commercial Officer at Three Eight Six, said that solar PV power has huge potential to be a significant and cost-effective contributor to clean energy targets in the Middle East.
“The Three Eight Six model supports economic as well as environmental sustainability, with the development of new solar PV assets enabling us to create local jobs in the construction process. We collaborate with local partners in every jurisdiction to best strategize and bring our projects to fruition,” Pedroso added.
Three Eight Six provides OPEX and CAPEX engineering and contracting solutions for commercial and industrial, as well as small and mid-utility scale projects that fulfill client expectations.
