SirajPower, Nakheel seal solar rooftop deal
01 December 2022
SirajPower, a leading distributed solar energy provider in the region, has sealed a partnership deal with master developer Nakheel that will see it deliver nine projects across the UAE.
The agreements include one for a 3.1MWp solar rooftop for Nakheel’s The Gardens residential complex, as well as Dragon Mart 2&6, Discovery Gardens, Dubai Island, International City Pavilion, Jumeirah Park Pavilion, Discovery Gardens Pavilion, and Al Furjan Pavilion South.
SirajPower currently holds the largest distributed solar energy portfolio of +100 MWp and has over 190 facilities under operations and maintenance.
On the Nakheel tie-up, Chairman Mohammed Abdulghaffar Hussain said: “It is an honour to be associated with Nakheel, one of the UAE’s biggest developers, and to assist them with such a large-scale, multi-site project.
These projects represent a significant milestone for SirajPower, as we are one of the few companies to offer fully integrated solar projects in the UAE residential market and will continue to do so with these new projects.”
Omar Khoory, Chief Assets Officer at Nakheel, said the new partnership is an excellent step towards achieving its clean energy goals.
“Looking ahead, Nakheel and SirajPower’s partnership will continue to thrive as other projects are in the pipeline to achieve the UAE’s vision of becoming carbon-negative by 2050,” he added.
Meanwhile in a major boost to its expansion strategy, Nakheel said it has secured Dh17 billion ($4.62 billion) in strategic finance deal to drive its new phase of growth.
The funds – comprising refinance of Dh11 billion ($3 billion) and additional funds of Dh6 billion ($1.63 billion) – will be utilised to accelerate the development of its new projects including Dubai Islands and other large waterfront projects.
The refinancing was secured through a syndicate of three banks – Mashreq Bank, Dubai Islamic Bank and Emirates NBD.
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