Aldar, the Abu Dhabi-based property giant, has announced plans to reduce its energy consumption by approximately 20% across a portfolio of 80 assets including schools, hotels, residential and retail properties. As well as benefiting the environment, the project will deliver around AED 40 million of cost savings annually for the developer.
In numbers, these energy saving efforts are projected to reduce Aldar’s carbon emissions by 80,000 tonnes, electricity consumption by 110 GWh, gas consumption by 726,000 cubic meters, and chilled water consumption by 23,000,000 TRH each year.
“As a socially responsible leader in the real estate sector, Aldar understands how crucial it is to take proactive measures towards reducing its carbon footprint. The primary step to achieving this goal is to fully understand our energy consumption and put in place measures to ensure we are efficient across our owned and managed assets,” said Greg Fewer, Chief Financial and Sustainability Officer.
How it will happen
Aldar has granted four ESCOs five-year Energy Performance Contracts, dependent on their completion of Level-III audits. These partners, who will each be accountable for a portfolio of assets, include Siemens, Enova, Engie (in collaboration with Tabreed), and Johnson Controls (in collaboration with Alliances for Global Sustainability).
A fifth company, GRFN, has been selected as the project management consultant.
The initial stages of the project will see the ESCOs undertake retrofit projects across all 80 assets, with an expected completion date of Q3 2022. Long-term, Aldar’s expectation is that the partners will achieve the guaranteed energy savings for a period of five-years.
The bigger picture
Aldar’s energy conservation efforts feed into the Group’s Sustainability Strategy and contribute to the achievement of its 2025 energy and emissions reduction targets.
On a wider scale, these initiatives also align with the UAE’s pledges to establish a green economy, as outlined by the country’s Green Growth Strategy. Announced in 2012 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, this long-term initiative aims to enforce sustainable approaches to architecture, construction, and transport to establish a low-carbon economy in the UAE.
By increasing efficiency in the consumption of water, energy, and other vital resources, the strategy seeks to maintain a sustainable environment to support the long-term growth of the UAE economy.
According to an Aldar spokesperson, the programme “will create employment opportunities for UAE nationals and private sector growth, in addition to being a key part of our procurement sustainability strategy”.
