Aldar to implement key Abu Dhabi energy retrofit projects
ABU DHABI, October 12, 2022
Aldar Properties (Aldar) said it will be investing AED25 million ($6.8 million) for energy retrofit projects in 13 of its residential communities that will help reduce utility consumption for owners and tenants.
The investment by Aldar will offset 19,000 T CO2 per year and reduce utility consumption by a total of AED12 million across the 13 communities. It comes as part of the company’s efforts to make its communities more energy efficient and environmentally friendly, it stated.
The plan was developed in conjunction with the owners’ associations of the communities, which are managed by Provis, Aldar’s real estate property management company.
These retrofit projects will be implemented by global energy giant Siemens in co-ordination with GRFN, a multi-disciplinary consultancy that delivers energy-saving and sustainable engineering solutions, which will act as the energy project manager for these projects.
Aldar said the investment into its communities was the first-of-its kind by an Abu Dhabi developer and incremental to the ambitious portfolio-wide energy management project announced early this year.
The project will enhance efficiency across a range of Aldar hotels, schools, commercial, leisure, retail, and residential buildings, it added.
Chief Financial and Sustainability Officer Greg Fewer said: "The commitment we have made to reduce the energy consumption of our residential communities reflects the pioneering role we have taken in the region’s real estate sector to reduce our carbon footprint."
Aldar’s wider energy management initiative announced in January is expected to cut consumption by 20% and support the company’s efforts to align its sustainability practices with the UAE’s long-term carbon reduction targets.
According to him, the retrofit project is a key milestone in the company-wide decarbonisation journey towards net-zero - it will decrease carbon emissions by 80,000 T, electricity consumption by 110 GWh, water consumption by 886,000 cu m, chilled water consumption by 23,000,000 TRH, and gas consumption by 726,000 m3 on a yearly basis.
"This project is special as its innovative structure enables significant capital investment into community assets while reducing energy consumption, carbon footprint, and community service charges at the same time," stated Fewer.
"We're proud of our team's ability to plan and execute real win-win solutions that move our industry forward and add tangible value to owners within Aldar managed communities," he added.
Provis’ Chief Executive Officer, HP Aengaar said: "We continuously introduce and implement innovative technologies and sustainability driven initiatives that result in the reduction of our managed communities’ carbon footprint and energy consumption."
"Aldar's new pledge will enable us to further increase our investment in high-impact solutions and modernisation programmes centred around sustainability and the environment. It will also allow us to continue building on previous achievements and enhance the overall real estate experience for investors, owners, and tenants," he added.-TradeArabia News Service
