SUNNYVALE, DUBAI - Sun Exchange, is a platform where you can purchase solar cells and have them power businesses and communities.
The company announced it has been selected by Architaly Green Energy DMCC, the promoters of the Dubai Solar Schools Program, to finance one megawatt (MW) of several rooftop solar facilities for top-tier Educational Institutions in Dubai.
This will be the first Sun Exchange solar project outside of Southern Africa, marking the company’s international debut and an important step towards its vision of financing a diverse portfolio of solar plants around the world.
Dubai Solar Schools offers schools and universities in Dubai access to fully funded solar plants under a zero-capex/zero-opex formula, utilising local solar installations partners and international operators to help Dubai meet their ambitious solar target.
The model complies with and is supported by a favourable policy and local regulatory environment for solar plant leasing.
The purpose of the initiative is to drastically reduce schools’ electricity costs and carbon footprint with zero investment from the schools, through the use of clean, renewable solar power.
Sun Exchange will finance and lease the solar facility through its newly established Dubai entity, meeting the local rules and regulations required for a blockchain-based peer-to-peer solar leasing marketplace.
“Our support of the Dubai Solar Schools Program, alongside other world-class solar companies, is an important milestone towards the worldwide economic and environmental transformation we envision”, said Abraham Cambridge, founder and CEO of Sun Exchange.
“New technology is an important enabler for Dubai Solar Schools Program’s goal of establishing a sustainable, solar-powered education landscape for the city of Dubai,” said David Provenzani, Managing Director of Architaly Green Energy DMCC, and creator of Dubai Solar Schools Program.
“We are thrilled to partner with Sun Exchange and leverage their unique approach to solar power financing, which we find highly ethical and innovative for delivering clean power everywhere, including emerging countries in remote areas".
"Sun Exchange not only enables access to solar power but also a real opportunity for a sustainable development of their communities, where energy means a better life and a brighter future", says Provenzani.
- BUSINESS REPORT ONLINE