
Emirates NBD partners with Siemens to boost financing for large-scale green infrastructure projects and support decarbonisation in the UAE
Collaboration highlights Emirates NBD and Siemens' commitment to expand the integration of energy efficiency measures by combining green tech and credit solutions
Dubai, UAE: Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, has partnered with Siemens, a global technology leader, to announce an innovative finance and resourcing agreement aimed at accelerating the funding of future green infrastructure projects in the UAE.
The landmark agreement is the culmination of an extensive and strategic collaboration that synergises technology, sustainability, and finance, and is fully aligned with the UAE's Net Zero by 2050 Strategic Initiative. A key objective of this initiative is to enhance and integrate energy efficiency projects, prioritising sustainability through the adoption of cutting-edge technologies.
Throughout the agreement's development, both Emirates NBD and Siemens demonstrated a strong commitment to aligning on critical areas related to credit and operational considerations. The structure of this deal is designed to serve as a replicable model for future initiatives, reinforcing Emirates NBD's role as a catalyst for sustainable development.
As the UAE's leading financial institution, Emirates NBD was approached by Siemens to develop and design the administrative, technical and structural aspects of the agreement. This collaboration resulted in the creation of a unique credit framework, complemented by an innovative suite of financing tools. These resources will support green infrastructure projects from installation through their entire lifecycle, including decarbonisation efforts.
Siemens, a recognised global leader in energy efficiency technologies, has successfully modernised more than 5,200 buildings worldwide through its advanced green building systems, achieving more than EUR 1 billion in savings and reducing CO2 emissions by over 10 million tons. With a rich history of successful innovation in the UAE spanning decades, Siemens continues to play a pivotal role in developing energy-efficient frameworks that underscore both its, and the UAE's, long-term commitment to environmental stewardship.
Ahmed Al Qassim, Group Head of Wholesale Banking, Emirates NBD, said: 'Emirates NBD's role in developing this expansive agreement with Siemens highlights our commitment to helping the UAE reach its sustainability and decarbonisation ambitions. It reinforces our goal to expand important working relationships with multinational conglomerates that share our ESG vision and are eager to establish new opportunities for growth within the fields of energy efficiency and sustainable technologies.'
He added: 'By increasing our presence in the sustainability sector, Emirates NBD is well positioned to become the banking partner of choice to provide clients with access to the trusted, secure, and transparent financing solutions they need to drive continuous innovation and long-term success.'
Helmut von Struve, CEO of Siemens in the UAE, said: 'Decarbonising infrastructure is a critical part of achieving the energy transition. The technologies required to accelerate energy efficiency progress are available today, but implementation needs to speed up to reach global goals. As a proud member of the Global Energy Efficiency Alliance, an initiative spearheaded by the Ministry of Energy and Infrastructure in the UAE, we are leveraging our global expertise in energy efficiency to support the UAE's Net Zero goals. Collaboration is at the heart of transformation and by working together with governments, industries, and financial institutions, we can scale the solutions needed to drive meaningful change.'
About Emirates NBD
Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As at 31st March 2025, total assets were AED 1 trillion, (equivalent to approx. USD 272 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 839 branches and 4,539 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 4.54 billion.
Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.
Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE's main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE's Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.
About Siemens
Siemens AG (Berlin and Munich) is a leading technology company focused on industry, infrastructure, mobility, and healthcare. The company's purpose is to create technology to transform the everyday, for everyone. By combining the real and the digital worlds, Siemens empowers customers to accelerate their digital and sustainability transformations, making factories more efficient, cities more livable, and transportation more sustainable. A leader in industrial AI, Siemens leverages its deep domain know-how to apply AI – including generative AI – to real-world applications, making AI accessible and impactful for customers across diverse industries. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a leading global medical technology provider pioneering breakthroughs in healthcare. For everyone. Everywhere. Sustainably.
In fiscal 2024, which ended on September 30, 2024, the Siemens Group generated revenue of €75.9 billion and net income of €9.0 billion. As of September 30, 2024, the company employed around 312,000 people worldwide on the basis of continuing operations. Further information is available on the Internet at www.siemens.com.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Arabian Business
33 minutes ago
- Arabian Business
Analysis: UAE's massive AI investment could redefine its economic future
The United Arab Emirates is betting heavily on artificial intelligence as part of a sweeping economic transformation plan, signing multibillion-dollar technology deals and launching a landmark AI partnership with the United States amid growing global uncertainty. and a broader $1.4 trillion investment commitment over the next decade, underscoring the UAE's intent to anchor its non-oil economy in advanced technologies, including AI, semiconductors and cloud computing. Central to the initiative is the newly announced US-UAE AI Acceleration Partnership, aimed at deepening bilateral cooperation on artificial intelligence and related infrastructure. As part of the effort, the UAE secured a deal to import up to 500,000 Nvidia H100 chips annually, a cornerstone component in generative AI systems. 'Bilateral trade talks focused on artificial intelligence, advanced technologies, and semiconductors, culminating in the launch of the US-UAE AI Acceleration Partnership,' said Vijay Valecha, Chief Investment Officer at Century Financial. The Gulf nation also plans to invest in major U.S. AI firms including OpenAI and xAI, while Abu Dhabi-based Group 42 will build a 5-gigawatt AI data centre, set to become the largest of its kind outside the United States. Diversification drive The AI push forms part of a broader strategy to diversify the UAE economy away from hydrocarbons. Non-oil sectors accounted for 75 per cent of GDP in the first nine months of 2024, according to the UAE Ministry of Economy, with the non-oil economy expanding 4.5 per cent, outpacing overall GDP growth of 3.8 per cent. 'The UAE's projected 4.5 per cent growth in 2025 stands in sharp contrast to a global outlook marked by mounting risks and downward revisions,' Osama Al Saifi, Managing Director for MENA at Traze, told Arabian Business. 'This divergence is largely explained by the UAE's strong performance in non-oil sectors, supported by expansion in tourism, transport, construction, and financial services, as well as sustained momentum in foreign direct investment and trade.' The International Monetary Fund expects the UAE's economy to grow by 4 per cent in 2025 and 5 per cent in 2026, making it the fastest-growing economy in the Gulf Cooperation Council. In contrast, global trade growth is forecast to slow to 1.7 per cent this year, with a possible recession in the U.S. or Europe still looming, according to analysts at JPMorgan and Fitch. Hedge against external shocks The timing of the UAE's AI investment spree coincides with a deteriorating global economic outlook. While a potential recession in major Western economies would weigh on oil demand and trade, analysts say the UAE is better positioned than most to weather external shocks. 'The region is better equipped than in previous cycles, though not entirely shielded,' Al Saifi said. 'A recession in the U.S. or Europe would likely exert downward pressure on global oil demand and weigh on fiscal performance. Nevertheless, substantial sovereign wealth assets, contained inflation, and firm domestic demand provide a degree of protection.' The UAE's inflation rate is expected to remain stable at around 2 per cent in 2025, with consumer spending forecast to expand 4.3 per cent, supported by easing interest rates and robust domestic demand, Al Saifi added. 'A mild recession in the U.S. and parts of Europe during the second half of the year is increasingly likely, as the delayed effects of tight monetary policy, persistent inflation, and weakening manufacturing data converge,' Hamza Dweik, Head of Trading at Saxo Bank MENA, told Arabian Business. 'However, the UAE's strong macroeconomic fundamentals, active IPO pipeline, and diversified revenue streams position it as a relative safe haven in the global landscape.' Despite global volatility, UAE financial markets have shown resilience. Dubai F inancial Market (DFM) welcomed 19,366 new investors in Q1 2025, of whom 86 per cent were foreign nationals. Trading activity surged, with average daily trading value reaching AED 663 million, up 67 per cent year-on-year, according to Century Financial. UAE equity valuations also remain below historical averages. The DFMGI index trades at a trailing P/E of 9.5x, about 16.5 per cent below its five-year average, while the ADSMI index is down 16.3 per cent from its historical norm. 'The indices appear undervalued considering the UAE's solid fundamentals and growth trajectory,' said Valecha. 'With over 74 per cent of GDP coming from non-oil sectors closely linked to market performance, equity markets deserve a better valuation.' Strategic positioning The UAE's AI ambitions are not solely economic. Investments in U.S. data infrastructure, semiconductor supply chains, and critical mineral projects are helping strengthen bilateral strategic ties. Abu Dhabi's $25 billion partnership with Energy Capital Partners, and a $60 billion energy cooperation framework with ExxonMobil and Occidental Petroleum, indicate a multipronged strategy that blends AI leadership with industrial leverage. 'Technology will be central to the UAE's next growth cycle – AI, green innovation, digital finance – these are the sectors that will help insulate the economy from external volatility,' Al Saifi said. PwC estimates the AI sector could contribute over $320 billion to the Middle East economy by 2030, with the UAE positioned to capture the lion's share through early infrastructure deployment, regulatory reform and foreign investment attraction. 'Sectors with strong global linkages – such as logistics, real estate (particularly off-plan investment-driven projects), and non-oil exports like aluminum and petrochemicals – are most vulnerable to a potential U.S. recession,' Dweik said. He added that sectors like tourism, hospitality, and sovereign-backed infrastructure projects are expected to remain resilient, supported by 'robust domestic demand and long-term strategic initiatives.' 'The projected non-oil GDP growth of 4.6 per cent in 2025 indicates the ongoing success of diversification and structural reform initiatives,' Valecha added. Dweik echoed his sentiment, adding that diversification remains essential in the current economic environment. 'Investors should consider blending traditional and alternative assets, such as sukuk, infrastructure, and private equity, while also diversifying geographically… Allocating capital across resilient sectors like healthcare, technology, and tourism will help regional investors navigate uncertainty.'


Gulf Today
44 minutes ago
- Gulf Today
Experts discuss AI integration into education
Experts in the fields of education and artificial intelligence (AI) discussed the key challenges and opportunities ahead, including integrating AI into the curriculum and its broader impact on students. The panel discussion was organised by the British Chamber of Commerce Dubai (BCCCD) and addressed by Katy Holmes, CEO of BCCD, Naz Panju, CEO of British Canadian International Education Ltd, Sarah Guerra, Co-Founder and CEO of Cloud Fusion AI, Baz Nijjar, Vice President – Education Technology and Digital Innovation at GEMS Education, Radha Bharj, CIPD AI Subject Matter Expert and Founder of The Future of Work Management Consultancies FZCO and Prof. May El Barachi, Dean of Computer Science at the University of Wollongong in Dubai. Katy Holmes, said, 'The UAE's decision to embed AI into public schools reflects its wider ambition to lead in innovation and future-readiness. Within the Chamber, we are closely following developments in AI and their impact across sectors. The Chamber embraces its role to help bridge the gap between academia and industry by creating an open forum for knowledge-sharing and discussion. As AI becomes more deeply embedded in education, it's vital that educators and employers stay aligned to ensure future graduates are equipped with the right mix of technical and human skills.' Among the opportunities of integrating AI into the classroom is the personalisation of learning, according to Naz Panju, CEO of British Canadian International Education Ltd. She said, 'The leading intervention to improve student performance is personal tutoring, and AI offers the opportunity for every child to have a one-on-one personal tutor that works at their own pace.' Sarah Guerra, Co-Founder and CEO of Cloud Fusion AI, highlights the opportunities to help monitor performance and predict learning trends to facilitate better informed decisions in education planning. She said, 'Our platform provides real-time data reporting on student performance. It can also forecast future academic development to create tailored solutions based on each student's learning needs and provide data-driven insights that enable institutions to make more strategic decisions in line with KHDA benchmarks.' Contrary to concerns that AI will dilute the development of essential skills, Baz Nijjar, Vice President – Education Technology and Digital Innovation at GEMS Education, said that, when used in the right context, the technology will enhance learning. He explained, 'AI tools can offer a different way to develop skills that are already being taught.


Zawya
an hour ago
- Zawya
Trinasolar reaffirms Tier 1 status in BNEF Q2 2025 list
Dubai, UAE – Trinasolar has once again secured its position in the BloombergNEF (BNEF) Tier 1 list for Q2 2025, reaffirming its exceptional bankability, industry-leading technologies, and robust shipment of its 210mm modules. This recognition further cements Trinasolar's reputation as a global leader in smart solar and energy storage solutions, trusted across global markets. The BNEF Tier 1 List is widely recognized as one of the most authoritative and influential rankings in the solar industry. It serves as a key reference for industry trend analysis and investment decisions. Starting in Q2 2025, BNEF has raised the eligibility threshold for solar project size from 5MW to 10MW, significantly tightening the selection criteria. Trinasolar's sustained presence on the list under these stricter standards highlights its robust financing capability, trusted brand reputation, and resilient global performance. As an active promoter of the 210mm product technology platform, Trinasolar has pioneered in the shipment of 210mm modules. By the end of 2024, global shipments of 210mm modules reached 380GW, with Trinasolar's 210mm modules contributing approximately 170GW, maintaining its top position worldwide. Renowned for their exceptional conversion efficiency, high reliability, and superior energy yield, Trinasolar's 210mm modules have been widely used across diverse application scenarios, earning trust and popularity among customers worldwide. In late 2024, Trinasolar launched i-TOPCon Ultra technology, now featured in its Vertex N modules. This advancement boosted module power output by 30 to 40W, marking the company's leadership in ushering the solar industry into the TOPCon 2.0 era. As a global leader in PV and energy storage solutions, Trinasolar has earned strong recognition for its exceptional bankability: Trina Storage, a business unit of Trinasolar, has been named as the Global Tier 1 Energy Storage Manufacturer in BNEF Tier 1 List for sixth consecutive quarters. Trina Storage was recently featured in the S&P Global 2024 Battery Energy Storage System Integrators ranking as well. Trinasolar's dedication to product reliability and performance continues to receive industry-wide recognition. Recently, Trinasolar has been honored with TOP Performer for the 11th consecutive years by Kiwa PVEL at Intersolar Europe 2025, reaffirming the high reliability and excellence of its products. As the solar industry moves toward higher standards and more stringent financing criteria, Trinasolar continues to deliver high-efficiency, highly reliable products and tailored solutions for global customers, advancing its mission to 'Solar energy for All' and contributing to a net-zero world. About Trinasolar (688599. SH) Founded in 1997, Trinasolar Co Ltd (stock symbol: Trinasolar; stock code: 688599) is engaged mainly in PV products, PV systems and smart energy. PV products include R&D, production and sales of PV modules. PV systems consist of power stations and system products. Smart energy comprises mainly PV power generation and operations and maintenance, smart solutions for energy storage, smart microgrid, and development and sales of multi-energy systems. We are committed to leading the way in smart PV and energy storage solutions and facilitating the transformation of new power systems for a net-zero future. On June 10, 2020, Trinasolar was listed on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange (SSE). It was the first PV and energy storage company to go public on the STAR Market providing PV products and systems, as well as smart energy. For more information, please visit For media inquiries please contact: Mariam Agag – PR Manager, Trinasolar MEA Email: Lojayne Mohsen – Senior Consultant, Fekra Communications Email: