Aldar Properties announced today the conclusion of a partnership with Yellow Door Energy, which specializes in sustainable energy solutions, to produce solar energy across 45 of Aldar’s real estate assets in the Emirates, in line with the objectives of the strategic initiative to achieve climate neutrality by 2050 and the Abu Dhabi strategy for managing climate change. Demand and rationalization of energy use 2030.
Through this step, Aldar seeks to supply its real estate projects with clean energy, as this is a fundamental pillar of its plan to achieve net zero emissions, which it announced last January to remove carbon from its assets and businesses by the year 2050. Aldar confirmed that it realizes that making progress Significant reduction of its carbon emissions requires a successful transition to clean energy through enhancing cooperation across various sectors, in parallel with responsible investment to achieve sustainable value in the long term.
Under this partnership, Yellow Door Energy will be responsible for financing the design, development and maintenance of solar generation systems used in 45 of Aldar’s retail, education and hospitality properties over the next 20 years.
By relying on solar photovoltaic solutions located on the roofs of buildings, garages and ground areas, 34 megawatts of clean energy will be generated, which will contribute to achieving cost savings and thus increasing operational efficiency.
The project to convert to solar energy, starting in 2024, will contribute to the removal of 23 tons of carbon dioxide emissions through Aldar’s real estate assets during the first year of implementation, which will result in reducing the company’s greenhouse gas emissions within Scope 2 of the energy purchased for the assets by 12% according to the plan. Company foundation in 2022.
Over the course of the entire project, more than 560,000 tons of CO2 emissions will be avoided, and Aldar's average reliance on clean energy will increase by 12% across its entire asset portfolio, while a select group of its properties will increase by up to 25%.
Salwa Al Muflhi, Director of Sustainability and Corporate Social Responsibility at Aldar, said: “The real estate sector continues its pivotal role in enabling the transition to clean energy, with the aim of consolidating the foundations of sustainability across various real estate projects, and based on our firm conviction in the importance of using solar energy solutions, which are… One of the most prominent natural resources rich in the UAE, in our projects, our partnership with Yellow Door Energy is an important step to support our transition to clean energy and thus achieve savings in energy consumption costs and generalize the use of energy technology in the UAE. Aldar continues to find the best ways to achieve Tangible progress through its plan towards achieving net zero emissions and promoting sustainable and green initiatives through its real estate projects.”
For his part, Rory McCarthy, Chief Operating Officer of Yellow Door Energy, said: “We are proud of our partnership with Aldar in support of its path towards sustainability and to help it achieve its goals within the net-zero emissions plan. Yellow Door Energy has cooperated for nearly ten years.” “We have worked with many leading companies in the UAE for years to reduce their energy consumption costs and support them in achieving their desired sustainable goals, all without the need for any reliance on capital investments.”
In line with the UAE Energy Strategy 2050, which aims to triple the contribution of renewable energy, Aldar is committed to employing renewable energy solutions across its various projects, such as the Sustainable City on Yas Island, which will be powered by clean energy, including solar panels, which will be installed in Parking facilities and spaces within Aldar’s residential projects, which will contribute to reducing carbon emissions, rationalizing water and energy consumption, and reducing waste.
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