HONG KONG SAR & DUBAI, UAE – Media OutReach Newswire – February 8, 2024 –
Raffles Family Office (“RFO“),
THE
Private office of His Highness Sheikh Ali Rashed Ali Saeed Al Maktoum(“HH Private Office“), a member of a ruling royal family of Dubai, United Arab Emirates (UAE), and
National New Energy Cooperation
Ltd. (“NCNE“) announced the signing of a memorandum of understanding (“Protocol of agreement“) which aims to foster the development of Dubai’s renewable energy infrastructure. The trilateral MoU is a first-of-its-kind partnership that unites the forces of APAC’s leading multi-family office, a royal family in Dubai and a leading electric vehicle infrastructure company. This significant collaboration underlines a commitment to exploiting opportunities arising from closer economic ties between China and the Middle East.
The memorandum was signed by (from right): Chi-man Kwan, Group CEO and co-founder of Raffles Family Office, Liu Yang, Chairman and CEO of National Cooperation New Energy, and His Highness Sheikh Ali Rashed Ali Saeed Al Maktoum.
Chi-man Kwan,
Group CEO and co-founder of Raffles Family Officeremarked: “This MoU signifies RFO’s strategic entry into the Middle East, aligning with the intensifying economic relations between China and the GCC region. This initiative demonstrates RFO’s commitment to its impact investing mandate, refined through careful attention over the past several years. The partnership with the HH Private Office and NCNE is instrumental in enabling RFO to exploit the significant potential of the region’s energy transition, specifically targeting renewable infrastructure projects. This collaboration marks a crucial milestone in RFO’s regional exploration and market penetration efforts, setting a new benchmark. in its commercial development trajectory.
As the UAE continues its commitment to an energy transition, it sets a goal of having 50% electric and hybrid cars on the roads by 2050, as promised at the 28th United Nations Climate Change Conference (COP28). The UAE is actively working to install 10,000 electric vehicle charging stations by 2030, a substantial increase from the 914 stations available in 2023.
The private office of His Highness Sheikh Ali Rashed Ali Saeed Al Maktoum said“We are pleased to partner with RFO, the largest multi-family office in the APAC region, and NCEC, a major player in the renewable energy sector. Our vision aligns perfectly with the objectives of the Raffles Family Office and of National New Energy Cooperation. We are particularly excited to collaborate on strategic investment and development between China and Dubai, focusing specifically on renewable infrastructure.
Liu Yang,
President and CEO of the National New Energy Cooperationsaid: “NCNE has always led the way in the advancement of renewable energy technologies. Our enthusiasm for this partnership with RFO stems from a shared vision to introduce our cutting-edge solutions to the Middle East. With the strategic support of the HH Private Office, we are in an advantageous position to make a significant contribution to the region’s energy transition. This collaboration not only aligns with our commitment to sustainability, but also represents a critical opportunity to drive meaningful change in the energy sector.
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The issuer is solely responsible for the content of this announcement.
