Sustainability push in the UAE’s private sector is getting some serious lending support. The UK’s Standard Chartered has closed a ‘transition trade’ facility – said to the first such in the region – with UAE’s Lafarge Emirates Cement llc, one of the largest cement producers in the UAE. Lafarge Emirates Cement is initiating a ‘waste heat recovery’ system, which will allow it to use less electricity from the grid to power operations and support transition to cleaner power sources.
The waste heat recovery solution is being provided by ‘one of the largest global players in electricity, natural gas, and energy services. This is also the first waste heat recovery project in the UAE to use Organic Rankine Cycle (ORC) technology. The WHR project encourages the use of clean and environmentally friendly energy in operations and also supports our global mission to build a Net Zero world.