UAE’s Aldar Properties has signed a clean energy contract with the Emirates Water and Electricity Company (EWEC).
Under the agreement, 100% of Alder’s operating assets owned and managed will be powered by EWEC’s clean energy sources for up to five years, official news agency said. Wham report.
This initiative aims to promote the adoption of clean energy and support the expansion of decarbonization in the real estate sector.
Currently, Scope 2 emissions associated with purchasing electricity from the grid are the largest contributors to greenhouse gas emissions in Alder’s real estate assets. The agreement will reduce emissions and support the decarbonization of the company’s entire portfolio, the statement said.
The clean energy supplied by EWEC to Aldar’s assets is verified by the Clean Energy Certificates registered by the latter. This is a scheme initiated by the Abu Dhabi Department of Energy to allow emirate companies to validate their claims on the production and consumption of renewable or clean electricity.
Greg Fewer, Chief Executive Officer of Treasury and Sustainability, commented: Buildings account for 37% of the world’s CO2 emissions today, taking into account both operational emissions and materialized emissions of materials. It is clear that sustainable buildings are one of the most effective means of addressing this global challenge, and we are proud to partner with EWEC to advance this milestone. “
“We see that major Abu Dhabi companies such as Alder certify the origin of electricity consumed from the grid through a clean energy certification scheme and participate in other major energy, industry, healthcare, and commerce. I’m really looking forward to seeing you take the lead in reaching zero carbon. Companies that are taking positive action to reduce carbon emissions, “said François, EWEC’s Managing Director of Commerce. Bryce added. “Alder quickly joined the scheme, becoming the first real estate development, management and investment company and one of the larger market participants.”
Aldar Properties also launched an energy management project for its entire portfolio earlier this month, reducing energy consumption by approximately 20% across 80 assets including hotels, schools, commerce, leisure, retail and housing.
In other news, Aldar Properties has signed a deal with Diamond Developers to set up a JV for the development of the sustainable city of Yas Island.
https://gulfbusiness.com/uaes-aldar-signs-agreement-with-ewec-to-promote-clean-energy-adoption/ United Arab Emirates Alder signs agreement with EWEC to promote clean energy adoption