Raffles Family Office Joins Forces With Dubai Royal Family And NCNE For Renewable Energy Development

In a landmark move that underscores the growing economic ties between China and the Middle East, Raffles Family Office ("RFO"), the private office of His Highness Sheikh Ali Rashed Ali Saeed Al Maktoum ("HH Private Office") of the Dubai Royal Family, and National Cooperation New Energy Ltd ("NCNE") have inked a Memorandum of Understanding ("MoU"). This trilateral agreement, announced on 8 February 2024, is poised to significantly enhance Dubai's renewable energy infrastructure, marking a pioneering partnership that combines the strengths of APAC's leading multi-family office, a distinguished member of Dubai's ruling royal family, and a frontrunner in electric vehicle (EV) infrastructure development.

The MoU was ceremonially signed by 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. This collaboration is not only a testament to the strategic foresight of these entities but also a clear indication of their commitment to leveraging the burgeoning economic relations between China and the Gulf Cooperation Council (GCC) region for sustainable energy advancements.

Chi-man Kwan expressed his enthusiasm about RFO's strategic foray into the Middle East, emphasizing the initiative as a reflection of RFO's dedication to impact investing and its ambition to tap into the region's energy transition potential. The partnership aims at propelling renewable infrastructure projects in Dubai, aligning with the UAE's ambitious goal to have 50% electric and hybrid cars on its roads by 2050. This objective was highlighted at the 28th UN Climate Change Conference (COP28), with plans to escalate EV charging stations from 914 in 2023 to 10,000 by 2030.

The Private Office of His Highness Sheikh Ali Rashed Ali Saeed Al Maktoum shared its vision for this collaboration, focusing on strategic investment and development between China and Dubai in renewable infrastructure. This partnership with RFO and NCNE is seen as a strategic alignment with their objectives towards sustainable development.

Liu Yang from NCNE highlighted the company's leadership in advancing renewable energy technologies and expressed eagerness about bringing their state-of-the-art solutions to the Middle East. With the strategic support from HH Private Office, NCNE is optimistic about making significant contributions to the region's energy transition. This partnership not only aligns with NCNE's commitment to sustainable development but also opens up new avenues for impactful change in the energy sector.

This trilateral MoU sets a new benchmark in business development trajectories for RFO, HH Private Office, and NCNE, illustrating a shared vision for sustainable energy solutions that cater to the evolving needs of the Middle East. The collaboration is a significant step towards realizing Dubai's renewable energy ambitions, reflecting a broader commitment to environmental sustainability and economic cooperation between China and the Middle East.