Dubai and China to strengthen collaboration in energy storage

Dubai International Chamber (DIC), one of the three chambers operating under the umbrella of Dubai Chambers, has successfully supported Kilimanjaro Energy’s expansion into China.

The chamber’s efforts contributed to the signing of a Memorandum of Understanding (MoU) between the Dubai-based renewable energy group and Skyworth Photovoltaic Technology, a Shenzhen-based company specialising in residential and commercial solar energy solutions.

Under the terms of the agreement, which was signed at Dubai Chambers’ headquarters recently in the presence of representatives from Dubai International Chamber and the government of Shenzhen’s Guangming District, the two companies will collaborate in the field of photovoltaic energy and energy storage for commercial and industrial projects in global markets. The MoU will enable both parties to jointly explore and implement mutually beneficial cooperation models for new energy projects.

Kilimanjaro Energy is set to open a branch in China to provide specialised advice to Chinese companies, including those seeking to expand into Dubai and the wider region.

Dubai International Chamber’s representative office in Shenzhen played a major role in establishing the successful cooperation between the two companies.

Dubai’s Kilimanjaro Energy is among the leading supporters of climate neutrality efforts and specialises in the identification and evaluation of top-tier renewable energy projects across Africa and the Middle East.

The company provides a wide range of services including business and project advisory, structuring and facilitating energy commodity deals, project development, and fund mobilisation. China’s Skyworth Photovoltaic Technology has technical expertise in the new energy, digitalisation, and supply chain sectors.

Salem Al Shamsi, Vice President of Global Markets at Dubai Chambers, commented: “Kilimanjaro Energy’s success in expanding into China and the MoU signed with Skyworth Photovoltaic Technology underline the importance of our efforts to support the growth of Dubai-based companies in promising global markets.”

“We remain committed to helping businesses establish constructive partnerships with companies around the world that drive the sustainable growth of the local private sector and further strengthen the competitiveness of Dubai’s dynamic business community.”

Ali Makki, Cofounder and Group CEO of Kilimanjaro Energy, commented: “We extend our deepest gratitude to Dubai International Chamber for their vital assistance and support throughout this process. Their commitment to fostering international business relationships and facilitating strategic partnerships has been invaluable.”

“As we move forward, we are confident that this alliance will not only enhance our capabilities but also position the UAE as a leader in the global energy landscape. We look forward to the positive outcomes this partnership will bring and are excited about the future prospects it holds for all stakeholders involved.”

Wanfei Qu, Skyworth Group CMO, Skyworth Solar CEO, commented: “The most amazing thing we’ve seen is the determination shown and action taken of this country and their family businesses in the new energy transformation. We are grateful to have contributed to the development of green energy in the UAE and Mena region, especially working together with Dubai Chambers and KME. We believe that Chinese technology can strongly support this region.”

Dubai International Chamber operates a growing network of 31 international representative offices around the world, which serve as gateways to attract foreign direct investment and help Dubai-based companies expand globally in support of the goals of the Dubai Economic Agenda (D33). Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, was established to promote Dubai as a global business hub, attract multinational companies, and expand the emirate’s trade ties with promising markets.

The chamber is dedicated to achieving the objectives of the Dubai Economic Agenda (D33), which aims to double the size of the emirate’s economy and establish Dubai among the top three global cities by 2033.

Meanwhile the Dubai International Chamber (DIC) achieved a year-over-year (YoY) growth of 48 per cent in the number of multinational companies (MNCs) and small and medium enterprises (SMEs) that it attracted to Dubai; 37 MNCs and SMEs joined Dubai International Chamber in Q1 of 2024, a 32.5 per cent increase from 25 in Q1 of 2023.

As Dubai gains ground to becoming a fintech hub and emerging as a top destination for foreign investment, we have seen a significant surge in demand for digital payment solutions in the UAE, with the total transaction value within the digital payments market anticipated to reach $29.75 billion globally.  Businesses must have reliable and efficient payment systems in place.