[ad_1]
Aldar Properties (Aldar) said it will invest AED 25 million ($6.8 million) in energy retrofit projects in 13 of its residential communities, which will help reduce utility consumption for owners and tenants.
Aldar’s investment will offset 19,000 tonnes of CO2 per year and reduce utility consumption by a total of AED12 million in 13 communities. It said it was part of the company’s efforts to make its communities more energy efficient and environmentally friendly.
The plan was developed in conjunction with the Community Home Owners Association, managed by Provis, Aldar’s real estate property management company.
The retrofit projects will be implemented by global energy giant Siemens in collaboration with GRFN, a multidisciplinary consultancy providing energy-efficient and sustainable engineering solutions, who will act as energy project manager for these projects.
Aldar said the investment in its community is a first for an Abu Dhabi developer and an addition to an ambitious portfolio energy management project announced earlier this year.
It added that the project will improve the efficiency of a range of Aldar hotel, school, commercial, leisure, retail and residential buildings.
Chief Financial and Sustainability Officer Greg Fewer said: “Our commitment to reducing energy consumption in residential communities reflects our pioneering role in the region’s real estate industry in reducing our carbon footprint.”
Aldar’s broader energy management plan announced in January is expected to reduce consumption by 20 percent and support the company’s efforts to align its sustainability practices with the UAE’s long-term carbon reduction goals.
According to him, the retrofit project is a key milestone for the company to achieve zero carbon emissions reduction – it will reduce carbon emissions by 80,000 tons, electricity consumption by 110 GWh, water consumption by 886,000 cubic meters and chilled water consumption by 23,000,000 TRH and gas consumption of 726,000 cubic meters per year.
“This project is special because of its innovative structure that enables substantial capital investment in community assets while reducing energy consumption, carbon footprint and community service costs,” Fewer said.
He added: “We are proud of our team’s ability to plan and execute true win-win solutions that move our industry forward and add tangible value to owners within Aldar-managed communities. “
“We continue to introduce and implement innovative technologies and sustainability-driven initiatives that reduce the carbon footprint and energy consumption of the communities we manage,” said HP Aengaar, CEO of Provis.
“Aldar’s new commitment will allow us to further increase our investment in high-impact solutions and modernization initiatives centered on sustainability and the environment. It will also allow us to continue building on previous achievements and provide investors, owners, , and tenants,” he added.-TradeArabia News Service
[ad_2]
Source link