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FIVE becomes the first and only hotel in the UAE to receive an International Renewable Energy Certificate (I-REC), aiming to run on 100% renewable electricity by 2022.
The certificates were obtained from the Mohammed bin Rashid Al Maktoum Solar Park, which is being implemented by the Dubai Electricity and Water Authority (Dewa). The solar park is the largest single-site solar park in the world and operates under the Independent Power Producer (IPP) model. By 2030, the production capacity will reach 5000MW, with a total investment of 50 billion dirhams.
FIVE’s single-delivery I-REC agreement was subsequently validated by the International Renewable Energy Certification Foundation (I-REC), a global leader in standardized renewable energy programs and sustainability statements.
FIVE’s latest achievement in leveraging future-proof sustainable solutions demonstrates its unwavering commitment to sustainable hospitality.
Saeed Mohammed Al Tayer, Managing Director and CEO of Dewa, said: “I congratulate FIVE for becoming the first and only hotel in the UAE to be awarded the International Renewable Energy Certification Foundation (I-REC) and achieve 100 by 2022. % renewable electricity. FIVE’s commitment to sustainability is an example for other businesses at all levels in the UAE and around the world.”
Al Tayer added: “At DEWA, we promote sustainable development and the transition to a sustainable green economy by increasing the share of renewable and clean energy in Dubai’s energy mix.” Mohammed bin Rashid Al Tayer The current production capacity of the Le Maktoum Solar Park, which DEWA is implementing, is 2,327MW, using photovoltaic solar panels and concentrated solar power (CSP) technology. This accounts for approximately 15.7% of Dubai’s total energy production capacity. We will continue our efforts to achieve the ‘Dubai Clean Energy Strategy 2050’ and the ‘Dubai Net Zero Carbon Emissions Strategy 2050: By 2050, 100% of Dubai’s total electricity generation will come from clean energy.”
FIVE continues to be at the forefront of luxury and entertainment, in harmony with social and environmental responsibility, with the aim of inspiring the world through its innovative platform, described in the classic FIVE Flair as “Sustainable Indulgence”.
As the only hotel in the UAE to purchase an i-REC from Dewa to enable 100% solar powering of its hotel, FIVE demonstrates the potential of collaborating with stakeholders to spark innovation on the path to decarbonisation. This achievement advances the sustainable development goal of FIVE’s vibrant community and partnerships, “Innovation to Address Social and Environmental Challenges”.
FIVE’s vision for the future
Compared to the 2020 baseline, in 2022, FIVE will significantly reduce its carbon use intensity by 76.2% (MtCO2e/million AED), electricity consumption per capita by 35.3% (kWh/coverage), and water intensity 36.2% (litres/coverage). In its relentless pursuit of continuous improvement, FIVE will seek to increase energy and environmental efficiency while reducing its carbon footprint through an ambitious action plan that includes a commitment to set science-based targets (SBTi) based on a 1.5°C warming scenario by 2025.
The company is a signatory to the United Nations Global Compact, a member of the Global Sustainable Tourism Council (GSTC), and continues to expand its engagement with key environmental and social alliances through global community engagement.
Kabir Mulchandani, Chairman and Founder of FIVE, said: “Ahead of COP28, FIVE’s electric milestone showcases the power of collaborative innovation when two future-focused changemakers (FIVE and Dewa) come together in pursuit of sustainable development. As the UAE’s first The first hotel group to source 100% renewable electricity from Dewa, we share a huge honor in this historic ‘Year of Sustainability’.
“I hope this achievement serves as an example of how a strong belief in a vision and a commitment to action can create a reality that allows us to continue to dream big, build creatively and live actively in a world that is closer to climate revival.” – trade arab news agency
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