Cenomi Centres, a leading owner, operator and developer of contemporary lifestyle centres in Saudi Arabia, will install solar PV panels across its sites reducing its Scope 2 emissions drastically. 

 

For this the Centre has executed a Portfolio Development Agreement with a consortium formed by FAS Energy and Marubeni Corporation. 

 

The partnership was signed by Alison Rehill-Erguven, CEO of Cenomi Centres, Yoshiaki Yokota, CEO, Energy & Infrastructure Solution Group of Marubeni, and Turki Mansour Al Hokair, CEO of FAS Energy, during COP28.

 

Deploying solar PV panels

The parties will initially deploy solar PV panels for a period of 20 years on the roofs and carports of 13 selected Cenomi Centres’ assets and may extend to the installation of related EV charging infrastructure, subject to all regulatory approval and permit applicable in Saudi Arabia. 

 

The initial deployment is expected to accommodate a total capacity of approximately 52MWp and generate 93 GWh per year. 

 

The plans demonstrate Cenomi Centres’ commitment to support Saudi Arabia in its Vision 2030 ambitions to be Net Zero by 2060. At full deployment, it is expected that 15% of Cenomi Centres’ annual electricity consumption will come from 100% renewable sources. 

 

The installations will result in the reduction of 53,000 tonnes of CO2 emissions per year, which is equivalent to 870,000 trees grown for 10 years. This Agreement with FAS Energy and Marubeni Corporation supports Cenomi Centres in delivering on its ambitions to create and maintain a sustainable business model that offers a positive, lasting impact on the communities in which it operates.

 

Rolling out in phases

The installations will be rolled out in phases, beginning with Cenomi Centres’ sites in Riyadh in early 2024, before moving on to other shopping centres across the kingdom. All sites are expected to be completed and in operation by 2025. The Agreement is based on a ‘design, finance, build, own and operate’ model – without upfront capital investments or any operational burdens to Cenomi Centres.

 

Rehill-Erguven said: “As developers, owners and operators of commercial real estate, we recognise that we have a responsibility to ensure we are consistently working to enhance our environmental footprint. This exciting partnership is another step in our journey to build a new way of doing things and future-proofing our assets as part of our commitment to a conscious and responsible way of doing business. We want to go beyond what is expected of us and be a pioneering force for future prosperity.”

 

Yokota said: “As one of the global leading energy solution providers, we will materialise this project steadily and expand the cooperation with Cenomi to a wider field for its advancement of environment-friendly business operation. Through this decentralised power generation business, Marubeni will contribute to the achievement of Saudi Arabia's GHG net zero emissions target by 2060 and the realisation of a sustainable society in Saudi Arabia.”

 

Al Hokair said: “The development of this project is a milestone in the history of FAS Energy which will be the starting point for an expansion into all of Saudi Arabia. Our focus is now the speedy implementation of quality power generation installations on all sites, enabling Cenomi Centre to deliver on their commitments to reduce its environmental footprints.”--TradeArabia News Service