Al Ghurair Investment’s real estate development division, Al Ghurair Properties, and renowned GCC distributed solar energy company SirajPower have entered a game-changing 21-year lease agreement.
As a result of this long-term partnership, SirajPower will finance, design, build, operate, and manage a solar energy project at Al Ghurair Properties’ Display Centre in Al Quoz, resulting in considerable savings on energy expenses and carbon emissions.
The announcement is in line with the UAE’s dedication to sustainability and highlights the crucial role that business plays in advancing the country’s ambitious energy transition goals. On October 17, the agreement was formally signed in Dubai in the presence of Laurent Longuet, CEO of SirajPower, and Anwar Atari, CEO of Al Ghurair Properties.
Al Ghurair Properties’ CEO, Anwar Atari, expressed his happiness with the collaboration while underlining the organization’s dedication to sustainability and environmental care. He underlined the value of teamwork as they worked toward being energy and carbon neutral, in line with the environmental objectives of the UAE.
The solar project is anticipated to provide 4,160MWh of sustainable energy over the first five years, with 840MWh produced in the first year alone. The project expects to provide a significant 17GWh of energy over its 21-year lifespan, which is the same as growing 193 thousand trees for a decade and offsetting around 11,700 metric tons of carbon dioxide emissions.
The CEO of SirajPower, Laurent Longuet, expressed enthusiasm for the partnership with Al Ghurair Properties and emphasized their shared goal to developing a cleaner, more sustainable energy sector in the United Arab Emirates.
This solar project makes a substantial contribution to the UAE’s policy for energy diversification and is consistent with the country’s net-zero goal of obtaining 50% clean energy by 2050, with 44% of that coming from renewable sources and 6% coming from nuclear power.
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