SOLTECH Solar SPV · Dubai

Put your capital to work in a real solar asset

Invest in a rooftop solar plant on a named commercial building in Dubai. You see where the asset sits, how much it generates, who consumes the power, how the cash flow is split and which contracts stand behind it.

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Nikita Lutsenko, founder and CEO of SOLTECH
Nikita LutsenkoFounder & CEO
Anton Topunov, co-founder of SOLTECH
Anton TopunovCo-founder
Current project · pre-diligence

Logistics warehouse rooftop

Al Quoz Industrial Area 4, Dubai · building in operation

Roof area
8,500 m²
Panel field
7,000 m²
Solar plant
1,000 kWp
Generation, year one
1.60m kWh
Investment CAPEX
AED 2.50m
Contract term
20 years
Project IRR after tax
12.37%*
Capital payback
8 years*

* Preliminary figures, pending completion of diligence. Not guaranteed. Financed entirely with equity — no bank debt and no contribution from the building's occupier.

The investment case fits in four numbers

One rooftop plant, one long contract, one transparent split of the cash it produces.

1,000 kWpThe asset on the roofBase case
AED 2.50mInvestment CAPEX, 100% equityNo bank debt
20 yearsContract termOfftake agreement
30%Saving the occupier keepsZero CAPEX for them

The building's occupier does not invest and takes no share in the SPV. They buy the power at a discount to what DEWA would charge and keep the difference. The investor funds the asset, alone or alongside SOLTECH.

How a SOLTECH SPV is put together

The project is held by its own company — a special purpose vehicle. Its job is to separate one project, legally and financially, from everything else SOLTECH does.

Step 01
InvestorFunds one named project, not a pooled fund.
Step 02
SPVA separate company that owns the plant and holds the contracts.
Step 03
Solar plantBuilt on the named roof and metered by DEWA.
Step 04
OccupierBuys the output under a twenty-year agreement.
Step 05
Cash flowOperating costs, tax and reserves first, then distributions.

An SPV does not, by itself, guarantee that money comes back. What it does is ring-fence one project and its cash flows. Investor protection comes from the structure around it: title to the asset, the offtake contract, the counterparty, security, insurance and the order in which payments are made.

Where every kilowatt-hour goes

The base case values each unit at the electricity cost it avoids: AED 0.440 per kWh excluding VAT. That value is split — the occupier keeps 30%, the SPV takes 70%. The actual rate is recalculated from the building's own DEWA bills during diligence.

AED 0.440 per kWh, split two ways

Avoided electricity cost, base case

30% · occupier AED 0.132 70% · project SPV AED 0.308 Year one: 1.60m kWh · SPV revenue AED 492,800 · occupier saving AED 211,200
Generation, year one
1.60m kWh
Generation, 20 years
30.5m kWh
SPV revenue, year one
AED 492,800
SPV revenue, 20 years
AED 9.40m
Distributable cash, 20 years
AED 6.81m
Occupier saving, year one
AED 211,200
Occupier saving, 20 years
AED 4.03m
Grid scheme
Shams Dubai net metering

Why 8,500 m² of roof gives 1 MWp

The chain runs in two steps, and every number in it is stated, not assumed. Step one: real roof to panel field. The working conversion factor is 1.2 — for every square metre of panel field you need 1.2 m² of real roof, because parapet setbacks, AC plant, hatches and the service walkways a cleaning crew needs all take their share. In UAE dust the panels are washed regularly, so those walkways are not optional. Here: 7,000 m² of field × 1.2 = 8,400 m², and the roof measures 8,500 m² — it fits, with margin. Step two: within the field the modules stand in tilted rows with shading gaps, so a square metre of panel field yields 0.14 kWp. The arithmetic: 7,000 × 0.14 = 980 kWp.

8,500 m²Real roof areabefore anything is taken out
×1.2Roof-to-field factor: 1.2 m² of roof per 1 m² of panels7,000 m² field → 8,400 m² needed
0.14 kWp/m²Yield of the panel fieldtilted rows, shading gaps
980 kWpWhat the field carriesbase case fixed at 1,000 kWp

The teaser's base case is 1,000 kWp, held until the survey and the module layout confirm the exact figure. Yield checks out against it: 1.60m kWh in year one is 1,600 kWh per kWp — standard Dubai delivery.

Finding the roof is not the bottleneck

The usual worry about a project like this is supply: fine, but can you do it again? In the UAE the scarce resource is not roof space. It is a qualified site — one where the consumption profile, the roof structure and the occupier's willingness to sign a twenty-year contract all line up at once. That is the part SOLTECH does.

The stock is enormous

Dubai alone has millions of square metres of flat industrial and commercial roof. After a decade of Shams Dubai, 8,430 buildings are connected — a small fraction of what is standing.

The right roofs are a subset

A project works when the building consumes while the sun is up: warehouses, cold stores, factories, schools, malls. We screen for that profile before anything else.

Qualification is the work

Roof rights, DEWA bills, load profile, structure, shading, the occupier's appetite for a long contract. Most candidate roofs fall out here, which is the point.

SOLTECH keeps a running pipeline of sites at different stages of that funnel, so a project is not a one-off. When one asset closes, the next is already in qualification — capital can go into a sequence of projects rather than wait for a lucky building to appear.

≈$5.1bnUAE rooftop segment by 2030Grand View Research · CAGR ≈8.7%
200+Panel manufacturers on the DEWA eligible listDEWA DRRG portal
82Contractors accredited to build under Shams DubaiDEWA enrolment list
725 MWRooftop capacity already on the Dubai gridDEWA · June 2025

Five checks stand between a site and an investment decision

On the current project the address, coordinates and working perimeter are confirmed. The technical, contractual and regulatory work is still ahead. No money moves until all five are closed.

Rights and bills

Roof rights, the building's DEWA accounts and its consumption profile.

Roof survey

Load-bearing capacity, shading, walkways and setbacks.

Generation and EPC

P50 and P90 yield, module layout, contractor pricing, O&M and warranties.

Legal and tax

The SPV itself, the offtake contract and a tax review.

DEWA

Connection and final approval under Shams Dubai.

Then, and only then

The investment decision. A site that fails any check does not reach an investor.

What your ticket returns

Move the amount. Everything else is the deal's own arithmetic, taken from the project teaser.

You invest

AED
25k2.5M

Structure

The building's occupier invests nothing and takes no share. Round size: .

You get back over 20 years your capital returned plus of profit on top
Average per year the schedule is uneven, see the note below
Capital back after then twelve more years of distributions
Annual return · IRR every dirham comes back times over
Your share of the project

Preliminary figures from the project teaser, pending diligence, and not guaranteed. IRR and the multiple belong to the structure and do not change with ticket size — the amounts do. Distributions are not evenly spread: the schedule includes reserve top-ups in years 13 to 16 and a release of the balance in year 20.

Why the occupier signs

Because the offer costs them nothing and starts paying from the first month. No CAPEX, no share in the SPV, no obligation to maintain anything — just a lower electricity bill for twenty years.

Occupier's cumulative saving, AED millions

AED 4.03m over the contract term, arriving monthly through a lower DEWA bill rather than as a dividend.

What stands behind the money

No one can promise a return on an infrastructure asset. What can be built is a structure where every part is named, documented and checkable.

One named project

Your capital is tied to a specific roof on a specific building, not to a pool of unnamed assets.

A separate company

The SPV owns the plant and holds the contracts, keeping this project's obligations away from any other.

Twenty-year offtake

The occupier buys the output under a contract with a defined term, price and indexation.

Title to the asset

The plant is physical property with a residual value and a manufacturer's performance warranty behind the modules.

Defined order of payments

Operating costs, insurance, corporate tax and reserves are paid first; what remains is distributable cash.

Reporting you can check

Generation is metered by DEWA. Output, revenue, costs and distributions are reported on a fixed schedule.

The platform behind the project is already running

This page is one part of a working system, not a rendering of a future one. The plant will be sold, monitored and reported through infrastructure that already exists.

28Site pages in the search index: DEWA guides, equipment catalogues, Solar Wiki
4Lead channels feeding one CRM: forms, quiz, Telegram bot, WhatsApp
2Google Ads campaigns live — villas, English and Arabic
5Languages: English and Russian live, Arabic, Greek and Thai in the plan

The CRM is built in-house — leads, pipeline, projects, finance and roles — and it is the same system an investor gets reporting from. The client app preview shows live generation, savings against the DEWA tariff and one-tap service requests.

Where this project sits on the company's road

The Al Quoz plant is a step in a published plan, not an isolated bet. Internal plan, shown for context — not a promise.

Quarters 1–2
Legal entity and DEWA qualificationUAE company, bank, engineers, Shams Dubai consultant and contractor status.
Quarters 2–3
First Buy & Own projectsVillas and commercial roofs delivered through accredited EPC partners.
Quarters 3–4
Service and O&MMonitoring, maintenance and the client app in daily use.
Year 2
ESCO on balance sheetFirst plants owned and operated; Thailand entry begins.
Years 2–3
Co-invest portfoliosSPV projects like this one, then Greece and Türkiye through local EPC partners.

Who does what

The investor controls the SPV. SOLTECH sources the project, coordinates delivery and reports. It does not install solar systems — accredited contractors do, under contract, and DEWA inspects the result.

SOLTECH

  1. Finds the building and qualifies it — consumption profile, roof, occupier
  2. Structures the deal and sets up the SPV
  3. Writes the technical brief and tenders the build to DEWA-accredited contractors
  4. Controls schedule, cost and warranties through to acceptance
  5. Runs reporting: CRM, documents, project status, O&M and financials

Everyone else

  • The SPV — remains the owner of the asset and of the cash flows
  • DEWA — approves the design, inspects the installation, meters the output
  • Accredited contractor — designs and installs the plant, carries the workmanship warranty
  • Occupier — consumes the power and pays under the offtake contract
  • Manufacturers — stand behind modules and inverters from the DEWA eligible equipment list

Next steps

NDA and data room · roof rights and DEWA bills · survey and P50/P90 yield · EPC proposal · legal and tax diligence, then closing.

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