UAE-based Al Ghurair Properties has announced that it has inked a transformative 21-year partnership with  SirajPower, a leading regional solar energy provider, in a move that will see the company fund, design, build, operate and maintain the project at Al Ghurair Properties' Display Centre in Al Quoz.

 

This long-term strategic alliance will help deliver both substantial reductions in carbon emissions and energy expenditures, said the real estate development arm of leading UAE family business Al Ghurair Investment.

 

The announcement harmonises with the UAE's commitment to sustainability, underscored by the ongoing Year of Sustainability and the forthcoming COP28, reaffirming the pivotal role of the business sector in supporting the nation's ambitious energy transition objectives, it stated.

 

This solar initiative makes a substantial contribution to the UAE's energy diversification strategy, aligning with the nation's net-zero vision to achieve 50% clean energy by 2050, comprising 44% from renewable sources and 6% from nuclear energy.

 

"The 21-year partnership deal with SirajPower highlights our ongoing commitment to sustainability and environmental stewardship," remarked Al Ghurair Properties CEO Anwar Atari after signing the deal with SirajPower CEO Laurent Longuet. 

 

"At Al Ghurair, we are aligned with the UAE’s sustainability goals, as we understand that building a prosperous future is intricately linked with protecting the environment that sustains it. This collaboration serves as a pivotal step in our ongoing journey toward carbon neutrality and energy efficiency," he noted.

 

Over the first five years, the solar project is expected to generate 4,160MWh of clean energy, with 840MWh generated in the inaugural year alone.

 

Across its 21-year lifespan, the project aims to produce a significant 17GWh of energy, equivalent to planting over 193 thousand tree seedlings for a decade and offsetting approximately 11,700 metric tons of carbon dioxide emissions.

 

Longuet said: "For SirajPower, excellence in the renewable energy sector is not merely about technological innovation, but also about the sustainable impact we imprint on communities."

 

"This partnership is a testament to our shared commitment toward creating a cleaner, more sustainable energy landscape in the UAE..umbrella both Engineering, Procurement, Construction (EPC), O&M, and financing solutions," he added.-TradeArabia News Service