Aldar and Yellow Door sign deal to provide solar power to properties
Officials during the signing ceremony.
The partnership between Aldar and Yellow Door Energy was signed by Salwa Al Maflahi, Aldar’s Director of Sustainability and Community Outreach and Rory McCarthy, Chief Operating Officer of Yellow Door Energy.
This transition to solar power will prioritise on-site clean energy generation as part of Aldar’s Net Zero Plan, a commitment launched in January 2023 to decarbonise its business and assets by 2050.
To significantly reduce Aldar’s operational carbon footprint requires a successful energy transition based on cross-sector collaboration and responsible investing to create long-term value.
The solar systems used as part of this project will be financed, designed, built, operated, and maintained by Yellow Door Energy across 45 of Aldar’s assets in retail, education, and hospitality for the next 20 years. Using rooftop, carport, and ground-mount solar photovoltaic (PV) applications, the clean energy systems have a capacity of 34 megawatts (MW) , contributing to cost savings and operational resiliency.
The transition to solar, which will begin in 2024, will reduce 23,000 tonnes of carbon dioxide (CO2) emissions in its first year, facilitating a 12 per cent reduction in Aldar’s Scope 2 greenhouse gas emissions related to purchased electricity of the assets against its 2022 baseline.
Over the project’s entire lifetime, more than 560,000 tonnes of CO2 will be avoided. Overall, Aldar’s average clean energy consumption will increase by 12 per cent across the whole portfolio, with selected assets benefiting from up to 25 per cent.
Speaking on the occasion, Al Maflahi commented, “The real estate sector plays a critical role in transitioning the power used in properties to be more sustainable. By harnessing solar, one of the UAE’s natural resources, our partnership with Yellow Door Energy supports this transition while also reducing energy costs and fostering energy technology in the UAE. At Aldar, we continue to find ways to progress towards our net zero ambition and promote greener places”.
McCarthy said, “For nearly a decade, Yellow Door Energy has been helping leading UAE businesses reduce their energy costs and progress towards their sustainability goals, all without any of their capital investment.
“In line with the UAE Energy Strategy 2050 to triple the contribution of renewable energy, Aldar is committed to using renewable energy in its developments, such as The Sustainable City in Yas Island, which will be powered by clean, renewable energy. The residential development will include solar panels on all parking structures and measures within the community to help reduce carbon emissions, water consumption, energy usage, and waste.”
Meanwhile Aldar Properties (Aldar) has unveiled Nikki Beach Residences, a new beachfront development on Al Marjan Island, featuring a range of leisure amenities that will revamp beach living in the emirate.
The first phase, launching on 5th December, will include 357 spacious one- to five-bedroom apartments with large balconies offering panoramic ocean views and mesmerizing sunrises. Serviced apartments are available in both furnished and unfurnished options. The average price for a one-bedroom apartment is Dhs2.3 million.
Rashed Al Omaira, Chief Commercial Officer at Aldar Development, said, “We are delighted to unveil the beautiful Nikki Beach Residences, which will bring an unparalleled residential experience to Ras Al Khaimah. The emirate’s emergence as a key tourism and investment destination in the UAE has encouraged us to bring a product to the market that caters to the short term stay and second home markets, while also offering permanent residents a daily lifestyle of nature, leisure, and wellness with the added bonus of spectacular ocean views.”
Lucia Penrod, CEO of Nikki Beach Global, said, “The Nikki Beach Residences in Ras Al Khaimah will offer the opportunity to secure your own piece of Nikki Beach in this vibrant region. We look forward to working with Aldar on this property development as we bring our signature Celebration of Life to this new destination, offering both our existing clientele and new audiences an exciting Nikki Beach experience unlike ever before.”
